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

Cloudflare, Inc. (NYSE:NETGet Rating) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $65.93, for a total value of $3,453,677.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Friday, September 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $65.98, for a total value of $3,456,296.32.
  • On Monday, August 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $78.21, for a total value of $4,096,952.64.
  • On Thursday, August 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.63, for a total value of $4,014,185.92.
  • On Friday, July 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $52.30, for a total value of $2,739,683.20.
  • On Wednesday, July 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $50.34, for a total value of $2,637,010.56.

Cloudflare Stock Performance

NET opened at $61.42 on Thursday. The company has a market capitalization of $20.04 billion, a price-to-earnings ratio of -67.49 and a beta of 1.10. The company has a debt-to-equity ratio of 2.47, a current ratio of 5.45 and a quick ratio of 5.45. Cloudflare, Inc. has a 1-year low of $38.96 and a 1-year high of $221.64. The business has a 50 day moving average price of $60.40 and a two-hundred day moving average price of $73.54.

Cloudflare (NYSE:NETGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.07). The firm had revenue of $234.52 million during the quarter, compared to analyst estimates of $227.52 million. Cloudflare had a negative return on equity of 23.62% and a negative net margin of 35.66%. Research analysts predict that Cloudflare, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Cloudflare by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,358,000 shares of the company’s stock worth $2,795,953,000 after purchasing an additional 548,149 shares during the period. Capital World Investors lifted its position in shares of Cloudflare by 50.2% during the 1st quarter. Capital World Investors now owns 17,046,464 shares of the company’s stock valued at $2,040,462,000 after acquiring an additional 5,698,601 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of Cloudflare by 15.4% during the 2nd quarter. Sands Capital Management LLC now owns 15,643,953 shares of the company’s stock valued at $684,423,000 after acquiring an additional 2,093,425 shares during the last quarter. BlackRock Inc. lifted its position in shares of Cloudflare by 4.2% during the 1st quarter. BlackRock Inc. now owns 15,091,856 shares of the company’s stock valued at $1,806,495,000 after acquiring an additional 611,459 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Cloudflare by 30.4% during the 1st quarter. First Trust Advisors LP now owns 6,448,150 shares of the company’s stock valued at $771,844,000 after acquiring an additional 1,503,125 shares during the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of several research analyst reports. Credit Suisse Group lowered their price objective on Cloudflare to $125.00 in a report on Tuesday, August 9th. Mizuho boosted their price objective on Cloudflare from $76.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Guggenheim initiated coverage on Cloudflare in a report on Friday, August 12th. They set a “neutral” rating and a $82.00 target price for the company. Jefferies Financial Group lowered their target price on Cloudflare from $75.00 to $55.00 in a report on Monday, May 23rd. Finally, Citigroup upped their target price on Cloudflare to $62.00 in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average target price of $112.50.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

Further Reading

Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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