Cloudflare, Inc. (NYSE:NET) CEO Sells $5,970,728.32 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The sale 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 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 transaction of $5,957,632.32.
• 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 Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00.
• 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 value of $5,007,386.56.
• 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 value 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 value of $4,921,476.80.

Cloudflare Price Performance

NET stock traded up $2.15 during trading on Wednesday, hitting $115.82. The company had a trading volume of 3,029,091 shares, compared to its average volume of 3,242,758. The company has a fifty day moving average price of $103.82 and a two-hundred day moving average price of $89.73. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $119.42. The company has a market cap of $39.75 billion, a P/E ratio of -445.46 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Trading of Cloudflare

Large investors have recently added to or reduced their stakes in the company. Capital Market Strategies LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at $647,000. Nordea Investment Management AB grew its holdings in Cloudflare by 0.7% during the 4th quarter. Nordea Investment Management AB now owns 39,776 shares of the company’s stock worth $4,307,000 after acquiring an additional 261 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in Cloudflare in the 4th quarter valued at about $803,000. GAMMA Investing LLC raised its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent analyst reports. Scotiabank lifted their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price target for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $102.30.

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.