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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,226,652.76. This trade represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.73, for a total transaction of $5,957,632.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00.
• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04.
• On Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.59, for a total value of $5,007,386.56.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $90.92, for a total value of $4,762,753.28.
• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $93.95, for a total value of $4,921,476.80.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $115.82 on Thursday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $119.42. The firm has a market cap of $39.75 billion, a PE ratio of -445.46 and a beta of 1.10. The company’s 50 day moving average price is $103.82 and its two-hundred day moving average price is $89.73.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Equities research analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of Cloudflare

Large investors have recently made changes to their positions in the company. TD Asset Management Inc increased its position in shares of Cloudflare by 1.4% during the second quarter. TD Asset Management Inc now owns 69,996 shares of the company’s stock valued at $5,798,000 after acquiring an additional 939 shares during the last quarter. National Bank of Canada FI grew its position in Cloudflare by 10.0% during the second quarter. National Bank of Canada FI now owns 7,031 shares of the company’s stock worth $590,000 after buying an additional 640 shares in the last quarter. Certuity LLC increased its position in shares of Cloudflare by 17.2% in the second quarter. Certuity LLC now owns 2,939 shares of the company’s stock worth $243,000 after purchasing an additional 432 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Cloudflare by 10.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,656 shares of the company’s stock valued at $220,000 after buying an additional 249 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Cloudflare by 2.1% during the second quarter. Royal London Asset Management Ltd. now owns 111,898 shares of the company’s stock worth $9,269,000 after purchasing an additional 2,330 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Scotiabank increased their price objective on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Wells Fargo & Company raised their price target on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho upped their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $102.30.

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.