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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60.
• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04.
• On Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.59, for a total transaction of $5,007,386.56.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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.

Cloudflare Stock Up 3.8 %

Shares of NYSE NET opened at $112.69 on Friday. The company has a 50 day simple moving average of $98.69 and a 200-day simple moving average of $86.54. The company has a market capitalization of $38.67 billion, a P/E ratio of -433.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of Cloudflare

Institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $38,000. Quest Partners LLC acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $54,000. Finally, Blue Trust Inc. increased its holdings in Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Wells Fargo & Company raised their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. UBS Group raised their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler raised their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company 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 twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $97.81.

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.