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 dated Wednesday, May 8th. The stock was sold at an average price of $72.51, for a total value of $3,798,363.84. Following the completion of the sale, the chief executive officer now owns 230,612 shares of the company’s stock, valued at $16,721,676.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, May 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.67, for a total value of $3,911,513.28.
• 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 value of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36.
• 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 value 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 value 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 value 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 value of $4,955,002.56.

Cloudflare Stock Performance

Shares of NET stock opened at $73.34 on Friday. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of -138.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52 week low of $47.79 and a 52 week high of $116.00. The company has a 50-day simple moving average of $91.68 and a 200 day simple moving average of $83.78.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) 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 13.10% and a negative return on equity of 12.78%. On average, sell-side analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of NET. Norges Bank acquired a new stake in Cloudflare during the fourth quarter worth approximately $221,858,000. 1832 Asset Management L.P. lifted its position in Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after acquiring an additional 1,597,900 shares during the last quarter. Vanguard Group Inc. lifted its position in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Capital World Investors lifted its position in Cloudflare by 1.8% during the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after acquiring an additional 487,308 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in Cloudflare during the first quarter worth approximately $37,740,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Susquehanna cut their price objective on Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday. Sanford C. Bernstein assumed coverage on Cloudflare in a report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Capital One Financial assumed coverage on Cloudflare in a report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $90.57.

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.