Cloudflare, Inc. (NYSE:NET) CEO Sells $5,030,959.36 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36. Following the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at $22,147,976.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.29, for a total value of $4,991,671.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.25, for a total value of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total value of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $98.75, for a total value of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56.

Cloudflare Stock Down 2.4 %

Shares of Cloudflare stock opened at $93.76 on Friday. The stock has a 50-day simple moving average of $96.46 and a 200-day simple moving average of $81.01. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of -170.47 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. On average, equities research analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. Riverview Trust Co acquired a new stake in Cloudflare in the 1st quarter worth approximately $27,000. Sunbelt Securities Inc. bought a new position in Cloudflare in the 1st quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd bought a new position in Cloudflare in the 3rd quarter worth approximately $38,000. ICA Group Wealth Management LLC bought a new position in Cloudflare in the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC bought a new position in Cloudflare in the 4th quarter worth approximately $39,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NET shares. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Tuesday, February 13th. KeyCorp lifted their price target on Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Sanford C. Bernstein started coverage on Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. Mizuho lifted their price target on Cloudflare from $73.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Needham & Company LLC lifted their price target on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $87.50.

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.