Cloudflare, Inc. (NYSE:NET) CEO Sells $5,284,497.92 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, April 10th, Matthew Prince sold 2,311 shares of Cloudflare stock. The stock was sold at an average price of $107.75, for a total value of $249,010.25.
• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $117.32, for a total transaction of $6,145,690.88.
• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48.
• 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 Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76.

Cloudflare Price Performance

Cloudflare stock opened at $105.94 on Friday. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of -481.56 and a beta of 1.59. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week 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. The stock’s 50 day moving average price is $132.54 and its two-hundred day moving average price is $113.34.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on NET shares. Piper Sandler cut their price target on Cloudflare from $131.00 to $112.00 and set a “neutral” rating for the company in a report on Tuesday. Guggenheim increased their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group reduced their target price on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, Robert W. Baird restated a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $134.88.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NET. NBC Securities Inc. bought a new position in shares of Cloudflare during the first quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its stake in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 142 shares during the last quarter. Quarry LP boosted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Cloudflare in the 4th quarter worth approximately $43,000. Finally, Global Financial Private Client LLC grew its holdings in shares of Cloudflare by 38,100.0% in the first quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after acquiring an additional 381 shares in the last quarter. Hedge funds and other institutional investors 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.