Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince Sells 52,384 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,279,290.07. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32.
• 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 value of $5,861,769.60.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00.

Cloudflare Stock Performance

NYSE:NET opened at $140.74 on Friday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The firm’s fifty day simple moving average is $132.01 and its 200 day simple moving average is $104.71. 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 firm has a market capitalization of $48.30 billion, a price-to-earnings ratio of -639.73 and a beta of 1.12.

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

Analyst Ratings Changes

Several analysts recently commented on NET shares. Susquehanna boosted their price target on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. UBS Group increased their target price on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Needham & Company LLC restated a “buy” rating and set a $185.00 price target on shares of Cloudflare in a research report on Tuesday, February 18th. Scotiabank raised their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Mizuho increased their price target on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $136.28.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Groupama Asset Managment bought a new stake in shares of Cloudflare in the fourth quarter worth $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter worth about $249,544,000. American Century Companies Inc. raised its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares in the last quarter. Fred Alger Management LLC lifted its position in shares of Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after purchasing an additional 836,591 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock worth $116,178,000 after purchasing an additional 804,059 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.