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 dated Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Thursday, April 10th, Matthew Prince sold 2,311 shares of Cloudflare stock. The stock was sold at an average price of $107.75, for a total value of $249,010.25.
• 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 transaction of $6,145,690.88.
• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48.
• 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 transaction of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76.

Cloudflare Stock Up 0.4 %

NET opened at $105.94 on Friday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s 50-day moving average price is $132.54 and its 200-day moving average price is $113.34. The company has a market cap of $36.56 billion, a P/E ratio of -481.56 and a beta of 1.59.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. Mizuho cut their price target on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Piper Sandler cut their target price on Cloudflare from $131.00 to $112.00 and set a “neutral” rating on the stock in a research note on Tuesday. JMP Securities raised their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group cut their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and raised their target price for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $134.88.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in Cloudflare in the first quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after purchasing an additional 142 shares during the last quarter. Quarry LP boosted its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the 4th quarter valued at about $43,000. Finally, Global Financial Private Client LLC increased its stake in Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after purchasing an additional 381 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.