Cloudflare (NYSE:NET) CEO Matthew Prince Sells 52,277 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,277 shares of Cloudflare stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $213.94, for a total transaction of $11,184,141.38. Following the completion of the sale, the chief executive officer directly owned 107 shares of the company’s stock, valued at $22,891.58. The trade was a 99.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, October 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $215.51, for a total transaction of $11,289,275.84.
• On Thursday, October 16th, Matthew Prince sold 107 shares of Cloudflare stock. The stock was sold at an average price of $220.79, for a total transaction of $23,624.53.
• On Thursday, September 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64.
• On Tuesday, September 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $217.12, for a total transaction of $11,373,614.08.
• On Wednesday, August 20th, Matthew Prince sold 51,848 shares of Cloudflare stock. The stock was sold at an average price of $190.46, for a total transaction of $9,874,970.08.
• On Monday, August 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $200.43, for a total transaction of $10,499,325.12.
• On Wednesday, August 20th, Matthew Prince sold 536 shares of Cloudflare stock. The stock was sold at an average price of $194.84, for a total transaction of $104,434.24.

Cloudflare Stock Down 2.9%

NET stock opened at $210.97 on Friday. The stock has a market capitalization of $73.52 billion, a P/E ratio of -620.50 and a beta of 1.99. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a one year low of $85.60 and a one year high of $230.10. The company has a 50 day moving average price of $212.54 and a two-hundred day moving average price of $177.57.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $512.32 million during the quarter, compared to analysts’ expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 EPS. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Cloudflare by 86.8% during the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock valued at $123,000 after acquiring an additional 508 shares in the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after buying an additional 4,755 shares in the last quarter. American Century Companies Inc. lifted its holdings in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after buying an additional 779,819 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its holdings in Cloudflare by 293.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock worth $2,949,000 after buying an additional 11,230 shares in the last quarter. Finally, Castle Rock Wealth Management LLC lifted its holdings in Cloudflare by 10.5% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after buying an additional 1,229 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NET shares. Citigroup boosted their price objective on shares of Cloudflare from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Monday, August 18th. Mizuho boosted their price objective on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $210.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Guggenheim boosted their price objective on shares of Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $196.54.

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.