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 on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. This represents a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $5,861,769.60.
• 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 value 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 value 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 shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80.

Cloudflare Stock Up 3.8 %

Shares of NET traded up $4.11 on Friday, reaching $112.69. The stock had a trading volume of 5,113,855 shares, compared to its average volume of 3,167,304. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $119.42. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. The company has a 50-day simple moving average of $98.31 and a 200-day simple moving average of $86.10.

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

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of NET. CVA Family Office LLC lifted its holdings in shares of Cloudflare by 121.3% during the third 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 raised its stake in Cloudflare by 73.4% during 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. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter worth $38,000. Quest Partners LLC bought a new stake in Cloudflare in the third quarter worth $54,000. Finally, Blue Trust Inc. increased its holdings in shares of Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after acquiring an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NET shares. BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Jefferies Financial Group lifted their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and lifted their price target for the stock from $95.00 to $136.00 in a research note on Tuesday. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $97.81.

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.