Cloudflare (NYSE:NET) CEO Sells $11,035,213.44 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $210.66, for a total transaction of $11,035,213.44. Following the completion of the transaction, the chief executive officer directly owned 25,550 shares in the company, valued at $5,382,363. This represents a 67.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $204.15, for a total value of $10,694,193.60.
• On Wednesday, April 8th, Matthew Prince sold 51,725 shares of Cloudflare stock. The stock was sold at an average price of $213.59, for a total value of $11,047,942.75.
• On Monday, April 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $210.02, for a total value of $11,001,687.68.
• On Wednesday, April 8th, Matthew Prince sold 659 shares of Cloudflare stock. The stock was sold at an average price of $223.62, for a total transaction of $147,365.58.
• On Wednesday, March 18th, Matthew Prince sold 38,766 shares of Cloudflare stock. The stock was sold at an average price of $218.87, for a total value of $8,484,714.42.
• On Monday, March 16th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $209.08, for a total value of $10,952,446.72.
• On Wednesday, March 18th, Matthew Prince sold 13,618 shares of Cloudflare stock. The stock was sold at an average price of $227.80, for a total value of $3,102,180.40.
• On Thursday, February 26th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $173.78, for a total value of $9,103,291.52.
• On Tuesday, February 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $164.15, for a total transaction of $8,598,833.60.

Cloudflare Stock Up 1.1%

Shares of NYSE NET traded up $2.34 on Thursday, hitting $212.47. The company had a trading volume of 2,791,087 shares, compared to its average volume of 4,700,855. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29. The business has a 50 day moving average of $207.53 and a two-hundred day moving average of $199.52. The firm has a market capitalization of $75.10 billion, a P/E ratio of -849.88 and a beta of 1.67. Cloudflare, Inc. has a 12-month low of $154.93 and a 12-month high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The firm had revenue of $639.76 million during the quarter, compared to analyst estimates of $620.83 million. During the same period in the previous year, the company earned $0.16 earnings per share. Cloudflare’s quarterly revenue was up 33.5% on a year-over-year basis. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NET shares. The Goldman Sachs Group cut Cloudflare from a “buy” rating to a “sell” rating in a research report on Wednesday, April 15th. Mizuho lowered their price objective on Cloudflare from $255.00 to $235.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Piper Sandler restated an “overweight” rating and issued a $250.00 price target (up from $222.00) on shares of Cloudflare in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $243.00 price objective on shares of Cloudflare in a research report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on shares of Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Eighteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Moderate Buy” and a consensus target price of $236.68.

Institutional Trading of Cloudflare

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC raised its stake in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock worth $750,000 after acquiring an additional 1,696 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Cloudflare during the second quarter worth $424,000. Cerity Partners LLC lifted its holdings in shares of Cloudflare by 30.1% in the second quarter. Cerity Partners LLC now owns 27,531 shares of the company’s stock valued at $5,391,000 after purchasing an additional 6,363 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Cloudflare by 40.1% in the second quarter. Sei Investments Co. now owns 329,036 shares of the company’s stock valued at $64,432,000 after purchasing an additional 94,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Cloudflare by 14.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company’s stock valued at $3,224,000 after buying an additional 2,093 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.