Insider Selling: Cloudflare, Inc. (NYSE:NET) CEO Sells 52,384 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, April 10th, Matthew Prince sold 2,311 shares of Cloudflare stock. The shares were sold at an average price of $107.75, for a total value of $249,010.25.
• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88.
• 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 stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $143.39, for a total transaction of $7,511,341.76.

Cloudflare Stock Down 6.1 %

Shares of Cloudflare stock traded down $6.91 on Thursday, hitting $105.66. 3,855,411 shares of the company’s stock traded hands, compared to its average volume of 3,180,946. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $132.54 and its 200 day moving average is $113.34. The stock has a market cap of $36.46 billion, a P/E ratio of -480.25 and a beta of 1.59. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Trading of Cloudflare

Institutional investors and hedge funds have recently bought and sold shares of the company. Capital World Investors increased its stake in Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after buying an additional 68,661 shares during the period. Groupama Asset Managment bought a new stake in shares of Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank acquired a new stake in Cloudflare during the fourth quarter worth about $249,544,000. Finally, American Century Companies Inc. lifted its holdings in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NET shares. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada decreased their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Cantor Fitzgerald raised their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $134.88.

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.