Cloudflare (NYSE:NET) CEO Sells $9,874,970.08 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 51,848 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $190.46, for a total transaction of $9,874,970.08. Following the completion of the transaction, the chief executive officer directly owned 20,647 shares of the company’s stock, valued at $3,932,427.62. The trade was a 71.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, August 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $200.43, for a total transaction of $10,499,325.12.
• On Wednesday, August 20th, Matthew Prince sold 536 shares of Cloudflare stock. The shares were sold at an average price of $194.84, for a total transaction of $104,434.24.
• On Thursday, July 10th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72.
• On Tuesday, July 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $192.27, for a total transaction of $10,071,871.68.
• On Friday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $171.25, for a total transaction of $8,970,760.00.
• On Wednesday, June 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $179.63, for a total transaction of $9,409,737.92.

Cloudflare Stock Performance

NET opened at $195.9330 on Friday. Cloudflare, Inc. has a 12-month low of $74.88 and a 12-month high of $219.00. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $68.28 billion, a PE ratio of -576.27 and a beta of 1.84. The firm has a 50 day moving average of $193.75 and a two-hundred day moving average of $156.73.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the firm posted $0.20 EPS. Cloudflare’s revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. NewEdge Advisors LLC grew its stake in Cloudflare by 121.1% in the 4th quarter. NewEdge Advisors LLC now owns 9,770 shares of the company’s stock valued at $1,052,000 after acquiring an additional 5,352 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cloudflare by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 361,607 shares of the company’s stock worth $38,943,000 after purchasing an additional 18,457 shares during the last quarter. Ossiam boosted its stake in Cloudflare by 9.7% during the 4th quarter. Ossiam now owns 3,514 shares of the company’s stock worth $378,000 after purchasing an additional 310 shares during the last quarter. MML Investors Services LLC boosted its stake in Cloudflare by 7.7% during the 4th quarter. MML Investors Services LLC now owns 30,658 shares of the company’s stock worth $3,301,000 after purchasing an additional 2,186 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Cloudflare by 184.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,547 shares of the company’s stock worth $274,000 after purchasing an additional 1,651 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on NET. Royal Bank Of Canada raised their price target on shares of Cloudflare from $210.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Piper Sandler lifted their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, August 1st. DZ Bank reaffirmed a “sell” rating and set a $170.00 target price on shares of Cloudflare in a report on Tuesday, July 22nd. Robert W. Baird lifted their target price on shares of Cloudflare from $148.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Finally, Susquehanna cut their target price on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.28.

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.