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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $116.47, for a total transaction of $6,101,164.48. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $48,150,212.11. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $117.32, for a total transaction of $6,145,690.88.
• On Thursday, February 27th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36.
• 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.

Cloudflare Trading Up 2.1 %

Shares of NET opened at $117.48 on Thursday. The firm’s 50-day moving average price is $136.54 and its 200-day moving average price is $109.42. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of -534.02 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

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

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare during the fourth quarter worth about $43,000. Quarry LP boosted its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Cloudflare during the fourth quarter worth about $56,000. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NET. Wells Fargo & Company lifted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Piper Sandler decreased their target price on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Finally, Morgan Stanley began coverage on shares of Cloudflare in a research report on Tuesday. They issued an “overweight” rating on the stock. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus target price of $130.04.

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.