Cloudflare, Inc. (NYSE:NET) CEO Sells $5,970,728.32 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00.
• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04.
• On Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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.

Cloudflare Price Performance

Shares of NET stock opened at $112.91 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $38.75 billion, a price-to-earnings ratio of -434.27 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $119.42. The stock has a fifty day simple moving average of $104.91 and a two-hundred day simple moving average of $90.09.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently made changes to their positions in the stock. Hartline Investment Corp lifted its stake in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare during the 3rd quarter valued at about $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares in the last quarter. National Pension Service increased its position in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Cloudflare during the 2nd quarter valued at about $7,319,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Finally, UBS Group boosted their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus price target of $102.30.

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.