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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $90.92, for a total transaction of $4,762,753.28. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $978,390.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $78.06, for a total value of $4,089,095.04.
• On Thursday, August 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.70, for a total value of $4,017,852.80.

Cloudflare Stock Up 0.4 %

NYSE:NET opened at $90.80 on Friday. The company’s 50 day moving average is $82.39 and its two-hundred day moving average is $81.01. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a market cap of $30.85 billion, a PE ratio of -171.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. During the same quarter in the prior year, the firm posted ($0.12) EPS. Cloudflare’s quarterly revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. Elo Mutual Pension Insurance Co grew its position in shares of Cloudflare by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after purchasing an additional 136 shares during the period. Quarry LP boosted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the last quarter. Forum Financial Management LP increased its stake in Cloudflare by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock worth $234,000 after buying an additional 162 shares in the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of Cloudflare by 0.5% during the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after acquiring an additional 168 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after acquiring an additional 171 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald increased their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim lifted their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Finally, Wolfe Research started coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $91.72.

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.