Cloudflare (NYSE:NET) CEO Sells $11,414,997.44 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $217.91, for a total value of $11,414,997.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $224.30, for a total value of $11,749,731.20.
• On Thursday, May 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $210.66, for a total value of $11,035,213.44.
• On Tuesday, May 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $204.15, for a total value of $10,694,193.60.
• On Wednesday, April 8th, Matthew Prince sold 51,725 shares of Cloudflare stock. The shares were sold at an average price of $213.59, for a total value of $11,047,942.75.
• On Monday, April 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $210.02, for a total transaction of $11,001,687.68.
• On Wednesday, April 8th, Matthew Prince sold 659 shares of Cloudflare stock. The shares were sold at an average price of $223.62, for a total transaction of $147,365.58.

Cloudflare Stock Performance

NYSE NET opened at $237.06 on Friday. The firm has a 50-day moving average of $222.06 and a 200-day moving average of $203.62. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market cap of $83.79 billion, a PE ratio of -948.24, a P/E/G ratio of 228.27 and a beta of 1.70. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $276.82.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $639.75 million during the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. Cloudflare’s revenue was up 33.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. On average, sell-side analysts anticipate that Cloudflare, Inc. will post 0.02 EPS for the current year.

Analyst Upgrades and Downgrades

NET has been the topic of several research reports. KeyCorp reaffirmed an “overweight” rating on shares of Cloudflare in a research report on Wednesday, June 10th. Susquehanna lifted their price target on Cloudflare from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. The Goldman Sachs Group downgraded Cloudflare from a “buy” rating to a “sell” rating in a research note on Wednesday, April 15th. Piper Sandler reaffirmed an “overweight” rating on shares of Cloudflare in a report on Wednesday, June 10th. Finally, Citigroup reiterated a “market outperform” rating on shares of Cloudflare in a research report on Monday, June 15th. Twenty-one research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.35.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NET. Norges Bank bought a new stake in shares of Cloudflare in the fourth quarter valued at approximately $718,316,000. Jennison Associates LLC grew its position in Cloudflare by 135.8% during the first quarter. Jennison Associates LLC now owns 4,394,484 shares of the company’s stock worth $906,758,000 after buying an additional 2,530,872 shares in the last quarter. Corient Private Wealth LLC increased its stake in Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after acquiring an additional 1,365,598 shares during the period. Groupama Asset Managment increased its stake in Cloudflare by 82.6% during the 3rd quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after acquiring an additional 950,000 shares during the period. Finally, Swedbank AB increased its stake in Cloudflare by 697.5% during the 1st quarter. Swedbank AB now owns 927,606 shares of the company’s stock worth $191,402,000 after acquiring an additional 811,297 shares during the period. 82.68% of the stock is owned by institutional investors.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.