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 business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $95.29, for a total value of $4,991,671.36. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at approximately $21,975,017.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.25, for a total value of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total value of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $98.75, for a total value of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56.

Cloudflare Price Performance

NET stock opened at $96.09 on Friday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business has a 50-day moving average of $96.24 and a 200-day moving average of $80.59. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NET. Sanders Morris Harris LLC acquired a new position in Cloudflare during the first quarter valued at approximately $506,000. David J Yvars Group acquired a new position in Cloudflare during the first quarter valued at approximately $2,703,000. Clarus Wealth Advisors boosted its position in Cloudflare by 15.8% during the first quarter. Clarus Wealth Advisors now owns 6,485 shares of the company’s stock valued at $615,000 after purchasing an additional 884 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Cloudflare by 22.8% during the first quarter. Gulf International Bank UK Ltd now owns 27,857 shares of the company’s stock valued at $2,697,000 after purchasing an additional 5,180 shares during the last quarter. Finally, RFG Advisory LLC boosted its position in Cloudflare by 9.6% during the first quarter. RFG Advisory LLC now owns 7,306 shares of the company’s stock valued at $707,000 after purchasing an additional 637 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NET shares. Sanford C. Bernstein started coverage on Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. Susquehanna upped their price target on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research note on Tuesday, February 13th. Wells Fargo & Company upped their price target on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Capital One Financial assumed coverage on Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price objective for the company. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus target price of $87.50.

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.