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

Cloudflare, Inc. (NYSE:NETGet Rating) CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $65.98, for a total value of $3,456,296.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Monday, September 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $65.93, for a total value of $3,453,677.12.
  • On Monday, August 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $78.21, for a total value of $4,096,952.64.
  • On Thursday, August 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.63, for a total value of $4,014,185.92.
  • On Friday, July 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $52.30, for a total value of $2,739,683.20.
  • On Wednesday, July 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $50.34, for a total value of $2,637,010.56.

Cloudflare Price Performance

Shares of NYSE:NET opened at $59.85 on Wednesday. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 2.47. Cloudflare, Inc. has a 1 year low of $38.96 and a 1 year high of $221.64. The business has a fifty day simple moving average of $60.18 and a 200 day simple moving average of $73.63. The firm has a market cap of $19.53 billion, a price-to-earnings ratio of -65.77 and a beta of 1.10.

Cloudflare (NYSE:NETGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The company had revenue of $234.52 million for the quarter, compared to the consensus estimate of $227.52 million. Cloudflare had a negative net margin of 35.66% and a negative return on equity of 23.62%. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new position in shares of Cloudflare in the first quarter worth about $29,000. Private Capital Group LLC increased its stake in shares of Cloudflare by 109.2% in the first quarter. Private Capital Group LLC now owns 251 shares of the company’s stock worth $30,000 after purchasing an additional 131 shares during the period. Clearstead Advisors LLC grew its position in Cloudflare by 93.8% during the first quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock worth $37,000 after buying an additional 150 shares in the last quarter. Rise Advisors LLC acquired a new stake in Cloudflare during the fourth quarter worth about $42,000. Finally, Proffitt & Goodson Inc. acquired a new stake in Cloudflare during the first quarter worth about $42,000. 71.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on Cloudflare from $75.00 to $55.00 in a research report on Monday, May 23rd. Mizuho increased their price target on Cloudflare from $76.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Citigroup increased their price target on Cloudflare to $62.00 in a research note on Monday, August 15th. Cantor Fitzgerald initiated coverage on Cloudflare in a research note on Thursday, September 8th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on Cloudflare from $60.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $112.50.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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