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 stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $48,150,212.11. The trade was a 11.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $6,145,690.88.
• 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 value of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76.
• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32.
• On Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $111.90, for a total value of $5,861,769.60.

Cloudflare Stock Up 2.1 %

Shares of NYSE NET traded up $2.36 during mid-day trading on Wednesday, hitting $117.48. The company had a trading volume of 2,974,982 shares, compared to its average volume of 3,016,373. The company has a market capitalization of $40.54 billion, a PE ratio of -534.02 and a beta of 1.27. 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 $177.37. The business’s 50-day simple moving average is $136.54 and its 200 day simple moving average is $109.42.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Trading of Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP raised its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare in the fourth quarter valued at $43,000. Quest Partners LLC acquired a new stake in Cloudflare in the third quarter valued at $54,000. Park Square Financial Group LLC acquired a new stake in Cloudflare in the fourth quarter valued at $56,000. Finally, Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NET. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Cantor Fitzgerald increased their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada cut their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Piper Sandler lowered their price objective on Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $130.04.

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.