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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $117.32, for a total value of $6,145,690.88. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at $48,501,613.16. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48.
• On Thursday, February 27th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76.
• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32.
• On Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60.

Cloudflare Stock Up 2.1 %

Shares of NYSE:NET traded up $2.36 during trading on Wednesday, hitting $117.48. The company’s stock had a trading volume of 2,974,982 shares, compared to its average volume of 3,016,373. The business has a 50 day moving average price of $136.54 and a two-hundred day moving average price of $109.42. The company has a market capitalization of $40.54 billion, a PE ratio of -534.02 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently modified their holdings of the company. CreativeOne Wealth LLC grew its stake in shares of Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock worth $752,000 after purchasing an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Baxter Bros Inc. grew its stake in shares of Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Ellevest Inc. grew its stake in shares of Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock worth $489,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NET shares. Royal Bank of Canada lowered their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. UBS Group lowered their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley initiated coverage on shares of Cloudflare in a research note on Tuesday. They issued an “overweight” rating on the stock. Cantor Fitzgerald raised their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Mizuho decreased their target price on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $130.04.

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.