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 business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $59,279,290.07. This represents a 11.25 % decrease in their position. The sale 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 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 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 Stock Up 3.4 %

NET opened at $145.48 on Friday. The firm has a 50 day moving average price of $132.65 and a 200 day moving average price of $104.96. The company has a market cap of $49.93 billion, a PE 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 posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

NET has been the subject of several research reports. Guggenheim upped their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Scotiabank boosted their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $136.28.

Institutional Trading of Cloudflare

Large investors have recently bought and sold shares of the company. Hartline Investment Corp raised its stake in shares of Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Cloudflare during the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service increased its stake in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the last quarter. Finally, Birchcreek Wealth Management LLC bought a new stake in shares of Cloudflare in the fourth quarter worth $215,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.