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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the completion of the transaction, the chief executive officer now owns 10,761 shares of the company’s stock, valued at approximately $840,003.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Thursday, August 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.70, for a total value of $4,017,852.80.
• On Thursday, July 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $82.67, for a total value of $4,330,585.28.
• On Tuesday, July 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $82.96, for a total value of $4,345,776.64.
• On Thursday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.46, for a total transaction of $3,900,512.64.
• On Tuesday, June 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $72.04, for a total transaction of $3,773,743.36.

Cloudflare Stock Performance

NYSE NET opened at $76.03 on Friday. The firm has a market cap of $25.83 billion, a P/E ratio of -143.45 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The business’s 50-day moving average price is $80.41 and its 200 day moving average price is $83.86. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 30.0% on a year-over-year basis. On average, equities research analysts expect that Cloudflare, Inc. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Scotiabank initiated coverage on Cloudflare in a research note on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Finally, Royal Bank of Canada boosted their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $92.29.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in shares of Cloudflare in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare in the second quarter valued at about $29,000. Quarry LP boosted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in Cloudflare during the 4th quarter worth approximately $38,000. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

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.