Cloudflare (NYSE:NET) CEO Matthew Prince Sells 51,725 Shares

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 51,725 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $213.59, for a total transaction of $11,047,942.75. Following the completion of the sale, the chief executive officer owned 659 shares in the company, valued at $140,755.81. The trade was a 98.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $210.02, for a total transaction of $11,001,687.68.
• On Wednesday, April 8th, Matthew Prince sold 659 shares of Cloudflare stock. The shares were sold at an average price of $223.62, for a total transaction of $147,365.58.
• On Wednesday, March 18th, Matthew Prince sold 38,766 shares of Cloudflare stock. The shares were sold at an average price of $218.87, for a total transaction of $8,484,714.42.
• On Monday, March 16th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $209.08, for a total transaction of $10,952,446.72.
• On Wednesday, March 18th, Matthew Prince sold 13,618 shares of Cloudflare stock. The shares were sold at an average price of $227.80, for a total transaction of $3,102,180.40.
• On Thursday, February 26th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $173.78, for a total transaction of $9,103,291.52.
• On Tuesday, February 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $164.15, for a total transaction of $8,598,833.60.
• On Thursday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $189.47, for a total transaction of $9,925,196.48.

Cloudflare Stock Down 2.5%

Shares of NYSE NET traded down $5.37 during mid-day trading on Wednesday, reaching $210.92. The company had a trading volume of 4,118,601 shares, compared to its average volume of 4,528,759. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm has a 50 day simple moving average of $194.55 and a two-hundred day simple moving average of $202.49. The stock has a market cap of $74.24 billion, a P/E ratio of -727.27 and a beta of 1.87. Cloudflare, Inc. has a 52-week low of $96.41 and a 52-week high of $260.00.

Cloudflare (NYSE:NET) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue was up 33.6% on a year-over-year basis. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NET shares. Susquehanna set a $190.00 price objective on shares of Cloudflare in a research report on Thursday, February 12th. Zacks Research raised shares of Cloudflare from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. KeyCorp reaffirmed an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. Needham & Company LLC lowered their target price on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $224.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.38.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in NET. Purpose Unlimited Inc. acquired a new stake in Cloudflare during the 4th quarter valued at $721,000. Stance Capital LLC grew its holdings in Cloudflare by 10.7% during the 4th quarter. Stance Capital LLC now owns 6,721 shares of the company’s stock valued at $1,325,000 after buying an additional 650 shares during the last quarter. Osbon Capital Management LLC acquired a new stake in Cloudflare during the 4th quarter valued at $2,456,000. Fund Advisors of America Inc FL purchased a new stake in shares of Cloudflare during the fourth quarter worth about $1,900,000. Finally, Spear Advisors LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $5,844,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.