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 Wednesday, May 8th. The shares were sold at an average price of $72.51, for a total value of $3,798,363.84. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at $16,721,676.12. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, May 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.67, for a total transaction of $3,911,513.28.
• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.29, for a total transaction of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.04, for a total transaction of $5,030,959.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.25, for a total transaction of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total transaction of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $98.75, for a total transaction of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56.

Cloudflare Stock Down 2.3 %

NET stock opened at $72.45 on Thursday. Cloudflare, Inc. has a 1-year low of $45.47 and a 1-year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company’s 50 day moving average is $92.19 and its 200 day moving average is $83.85. The stock has a market cap of $24.46 billion, a price-to-earnings ratio of -136.70 and a beta of 1.15.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of a number of research analyst reports. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a report on Friday, May 3rd. Robert W. Baird cut their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Mizuho dropped their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Finally, Morgan Stanley upped their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.48.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Capital World Investors boosted its stake in shares of Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after purchasing an additional 487,308 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after purchasing an additional 1,597,900 shares during the period. Norges Bank purchased a new stake in shares of Cloudflare during the fourth quarter valued at approximately $221,858,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Cloudflare by 0.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company’s stock valued at $109,451,000 after purchasing an additional 14,984 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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.