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 firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $90.92, for a total transaction of $4,762,753.28.
• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 stock was 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 stock was sold at an average price of $78.06, for a total transaction of $4,089,095.04.

Cloudflare Price Performance

Shares of NET opened at $89.77 on Friday. The company has a market cap of $30.67 billion, a P/E ratio of -345.27 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s 50 day moving average price is $86.12 and its 200 day moving average price is $80.83.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. On average, research analysts forecast that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Scotiabank lifted their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $92.88.

Institutional Trading of Cloudflare

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. CVA Family Office LLC increased its position in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP increased its holdings in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Cloudflare in the second quarter valued at $29,000. Finally, Versant Capital Management Inc increased its holdings in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after buying an additional 421 shares during the last quarter. Hedge funds and other institutional investors 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.