Insider Selling: Cloudflare (NYSE:NET) CEO Sells $11,289,275.84 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $215.51, for a total value of $11,289,275.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, October 16th, Matthew Prince sold 52,277 shares of Cloudflare stock. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38.
• On Thursday, October 16th, Matthew Prince sold 107 shares of Cloudflare stock. The shares were sold at an average price of $220.79, for a total value of $23,624.53.
• On Thursday, September 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $226.46, for a total value of $11,862,880.64.
• On Tuesday, September 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $217.12, for a total value of $11,373,614.08.
• On Wednesday, August 20th, Matthew Prince sold 51,848 shares of Cloudflare stock. The shares were sold at an average price of $190.46, for a total value of $9,874,970.08.
• 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 value 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 value of $104,434.24.

Cloudflare Stock Down 0.7%

NET opened at $209.94 on Friday. Cloudflare, Inc. has a 12 month low of $85.60 and a 12 month high of $230.10. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The stock has a market cap of $73.16 billion, a P/E ratio of -617.47 and a beta of 1.99. The stock’s 50 day moving average price is $212.65 and its 200 day moving average price is $178.63.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The firm had revenue of $512.32 million for the quarter, compared to analysts’ expectations of $501.58 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue 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. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NET shares. KeyCorp lifted their price target on Cloudflare from $210.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. UBS Group lifted their price target on Cloudflare from $145.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Guggenheim lifted their price target on Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a research report on Friday, August 1st. Bank of America lifted their price target on Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus lifted their price target on Cloudflare from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $196.54.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Cloudflare by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,495,565 shares of the company’s stock worth $6,167,776,000 after acquiring an additional 658,656 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cloudflare by 5.1% in the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after buying an additional 270,227 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cloudflare by 33.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after buying an additional 786,063 shares during the period. American Century Companies Inc. boosted its position in shares of Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after buying an additional 779,819 shares during the period. Finally, Norges Bank acquired a new stake in shares of Cloudflare in the second quarter worth $541,462,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.