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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. This represents a 11.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $7,511,341.76.
• 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 transaction 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 transaction 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

Cloudflare stock opened at $145.48 on Friday. The company’s 50-day moving average price is $132.65 and its 200-day moving average price is $104.96. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $49.93 billion, a PE ratio of -661.26 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its earnings results 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 research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NET shares. Susquehanna lifted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after purchasing an additional 68,661 shares during the last quarter. Groupama Asset Managment bought a new position in Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank bought a new position in Cloudflare during the 4th quarter valued at about $249,544,000. Finally, American Century Companies Inc. grew its holdings in Cloudflare by 82.0% during 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 during 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.