Cloudflare, Inc. (NYSE:NET) CEO Sells $5,007,386.56 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at $18,370,199.43. This represents a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $90.92, for a total transaction of $4,762,753.28.
• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.55, for a total value of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04.

Cloudflare Trading Down 2.3 %

Shares of Cloudflare stock opened at $89.77 on Monday. The company has a market capitalization of $30.67 billion, a P/E ratio of -345.27 and a beta of 1.10. The stock has a fifty day simple moving average of $86.12 and a 200 day simple moving average of $80.78. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently modified their holdings of NET. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. CVA Family Office LLC increased its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare in the 2nd quarter worth about $29,000. Finally, Versant Capital Management Inc grew its position in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after buying an additional 421 shares during the period. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NET shares. Robert W. Baird upped their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Guggenheim lifted their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler lifted their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.88.

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.