Cloudflare (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 that occurred on Monday, November 17th. The shares were sold at an average price of $204.76, for a total value of $10,726,147.84. Following the transaction, the chief executive officer directly owned 22,175 shares in the company, valued at approximately $4,540,553. This represents a 70.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, November 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $195.32, for a total value of $10,231,642.88.
• On Thursday, October 16th, Matthew Prince sold 52,277 shares of Cloudflare stock. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38.
• 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 shares were 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.

Cloudflare Stock Down 0.1%

Shares of NYSE:NET opened at $196.30 on Thursday. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The stock has a market cap of $68.76 billion, a P/E ratio of -654.32 and a beta of 2.10. The business’s 50 day moving average is $220.77 and its 200 day moving average is $197.11. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $562.03 million during the quarter, compared to analyst estimates of $544.87 million. Cloudflare had a negative net margin of 5.12% and a negative return on equity of 6.54%. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Cloudflare has set its Q4 2025 guidance at 0.270-0.270 EPS. FY 2025 guidance at 0.910-0.910 EPS. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NET. Norges Bank purchased a new position in shares of Cloudflare in the second quarter worth $541,462,000. Groupama Asset Managment purchased a new position in Cloudflare in the 2nd quarter worth $225,204,000. Vanguard Group Inc. lifted its position in Cloudflare by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after acquiring an additional 821,684 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cloudflare by 33.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after acquiring an additional 786,063 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Cloudflare in the first quarter valued at about $88,203,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. Needham & Company LLC lifted their price objective on shares of Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a report on Friday, October 31st. Cantor Fitzgerald lifted their price target on Cloudflare from $199.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, October 31st. KeyCorp boosted their price target on Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Oppenheimer began coverage on Cloudflare in a research report on Monday, November 10th. They set an “outperform” rating and a $260.00 price objective on the stock. Finally, Susquehanna lifted their target price on Cloudflare from $205.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.35.

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.