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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on 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 transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, May 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were 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 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 value 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 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 Trading Down 2.3 %

Shares of NYSE NET traded down $1.68 during midday trading on Wednesday, hitting $72.45. The company’s stock had a trading volume of 3,160,799 shares, compared to its average volume of 3,954,337. Cloudflare, Inc. has a 12-month low of $45.47 and a 12-month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm has a market cap of $24.46 billion, a P/E ratio of -139.85 and a beta of 1.15. The business’s 50 day moving average is $92.69 and its two-hundred day moving average is $83.93.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Mizuho cut their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. JMP Securities lifted their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. TD Cowen dropped their price objective on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 3rd. KeyCorp reduced their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. dropped their price target on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.48.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Cigna Investments Inc. New grew its position in shares of Cloudflare by 4.2% during the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after buying an additional 129 shares in the last quarter. Yousif Capital Management LLC increased its position in Cloudflare by 4.0% during the 4th 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 increased its position in Cloudflare by 0.5% during the 4th 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 lifted its position in shares of Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after purchasing an additional 171 shares in the last quarter. 82.68% of the stock is 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.