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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $74.67, for a total value of $3,911,513.28. Following the completion of the sale, the chief executive officer now owns 230,612 shares of the company’s stock, valued at $17,219,798.04. 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 Wednesday, May 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84.
• 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 shares were 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 shares were sold at an average price of $96.66, for a total value 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 value 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 value of $4,955,002.56.

Cloudflare Stock Performance

Shares of NET opened at $72.45 on Thursday. The company has a 50-day moving average of $92.19 and a two-hundred day moving average of $83.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a one year low of $45.47 and a one year high of $116.00. 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 posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, equities research analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NET shares. Truist Financial upped their price target on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Susquehanna cut their price target on Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday. The Goldman Sachs Group decreased their price objective on Cloudflare from $89.00 to $77.00 and set a “sell” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Morgan Stanley increased their price target on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.48.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 purchasing an additional 740,914 shares during the last quarter. Capital World Investors lifted its holdings in shares of Cloudflare by 1.8% during the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after buying an additional 487,308 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of Cloudflare by 121.2% in the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after buying an additional 1,597,900 shares in the last quarter. Norges Bank acquired a new position in Cloudflare in the fourth quarter worth approximately $221,858,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in 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 acquiring an additional 14,984 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.