Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince Sells 52,384 Shares

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.67, for a total transaction of $3,911,513.28. Following the sale, the chief executive officer now directly owns 230,612 shares in the company, valued at approximately $17,219,798.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Matthew Prince also recently made the following trade(s):

• On Wednesday, May 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84.
• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.29, for a total value of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $96.04, for a total value of $5,030,959.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.25, for a total transaction of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total value of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $98.75, for a total value of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56.

Cloudflare Trading Down 2.3 %

NYSE NET opened at $72.45 on Thursday. Cloudflare, Inc. has a 12 month low of $45.47 and a 12 month high of $116.00. The stock has a market capitalization of $24.46 billion, a P/E ratio of -136.70 and a beta of 1.15. The firm’s 50-day moving average is $92.19 and its two-hundred day moving average is $83.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NET. Norges Bank acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $221,858,000. 1832 Asset Management L.P. grew its stake in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after acquiring an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the period. Capital World Investors raised its stake in shares of Cloudflare by 1.8% in the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after acquiring an additional 487,308 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in Cloudflare in the first quarter valued at $37,740,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NET shares. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. Capital One Financial initiated coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective for the company. Finally, Truist Financial lifted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.48.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.