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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The transaction 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 Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $90.92, for a total value of $4,762,753.28.
• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $93.95, for a total value of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.55, for a total value of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $78.06, for a total transaction of $4,089,095.04.

Cloudflare Stock Performance

Shares of NET stock opened at $89.77 on Friday. The stock has a market cap of $30.67 billion, a P/E ratio of -345.27 and a beta of 1.10. The company has a fifty day moving average price of $86.12 and a two-hundred day moving average price of $80.83. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

NET has been the topic of several recent research reports. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Robert W. Baird increased their target price on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Scotiabank raised their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price target on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Guggenheim lifted their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.88.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its position in shares of Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the period. Vanguard Group Inc. raised its holdings in Cloudflare by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after acquiring an additional 412,864 shares during the period. Capital World Investors lifted its position in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after acquiring an additional 584,566 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Cloudflare by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after purchasing an additional 19,446 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.