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 the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $95.29, for a total transaction of $4,991,671.36. Following the completion of the sale, the chief executive officer now directly owns 230,612 shares in the company, valued at $21,975,017.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $96.04, for a total transaction of $5,030,959.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.25, for a total transaction of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $96.66, for a total transaction of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $98.75, for a total transaction of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56.

Cloudflare Price Performance

Shares of NYSE NET opened at $96.09 on Friday. The firm has a 50-day simple moving average of $96.24 and a 200-day simple moving average of $80.59. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Equities research analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC grew its holdings in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after purchasing an additional 130 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares during the period. Quent Capital LLC grew its holdings in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after purchasing an additional 140 shares during the period. CWM LLC grew its holdings in shares of Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after purchasing an additional 153 shares during the period. Finally, RFG Advisory LLC grew its holdings in shares of Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock valued at $376,000 after purchasing an additional 166 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NET shares. Sanford C. Bernstein started coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price for the company. Morgan Stanley boosted their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price (up from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Mizuho boosted their target price on shares of Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus price target of $87.50.

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.