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 company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total transaction of $5,030,959.36. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $22,147,976.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.29, for a total transaction of $4,991,671.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56.

Cloudflare Price Performance

NET opened at $93.73 on Friday. The company has a market capitalization of $31.65 billion, a price-to-earnings ratio of -170.42 and a beta of 1.12. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a 50-day moving average price of $96.46 and a 200-day moving average price of $80.84. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Equities analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently modified their holdings of NET. Riverview Trust Co bought a new position in shares of Cloudflare in the first quarter valued at approximately $27,000. Sunbelt Securities Inc. bought a new position in shares of Cloudflare in the first quarter valued at approximately $29,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of Cloudflare in the third quarter valued at approximately $38,000. ICA Group Wealth Management LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $38,000. Finally, GAMMA Investing LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $39,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NET. Susquehanna upped their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Royal Bank of Canada upped their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Truist Financial upped their target price on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research report on Tuesday, February 13th. Finally, JMP Securities increased their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.