Cloudflare, Inc. (NYSE:NET) CEO Sells $7,597,775.36 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $59,961,421.52. This represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $143.39, for a total transaction of $7,511,341.76.
• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32.
• On Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.98, for a total transaction of $5,970,728.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00.

Cloudflare Price Performance

Cloudflare stock opened at $145.48 on Friday. The company’s 50 day simple moving average is $133.31 and its 200-day simple moving average is $105.43. The company has a market capitalization of $49.93 billion, a price-to-earnings ratio of -661.26 and a beta of 1.12. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC purchased a new stake in Cloudflare during the 4th quarter worth approximately $56,000. Menard Financial Group LLC acquired a new position in Cloudflare during the 4th quarter worth approximately $449,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Cloudflare during the 4th quarter worth approximately $16,846,000. Employees Retirement System of Texas grew its holdings in Cloudflare by 14.0% during the 4th quarter. Employees Retirement System of Texas now owns 52,087 shares of the company’s stock worth $5,609,000 after acquiring an additional 6,381 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Cloudflare during the 4th quarter worth approximately $273,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NET. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Piper Sandler boosted their price target on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Guggenheim boosted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald boosted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $136.28.

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.