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 that occurred on Thursday, November 10th. The shares were sold at an average price of $45.84, for a total value of $2,401,282.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, November 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $52.89, for a total value of $2,770,589.76.
  • On Friday, October 7th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $56.28, for a total value of $2,948,171.52.
  • On Wednesday, October 5th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $59.65, for a total value of $3,124,705.60.
  • On Monday, September 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $65.93, for a total value of $3,453,677.12.
  • 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.

Cloudflare Stock Performance

Shares of NYSE NET opened at $56.40 on Wednesday. The company has a debt-to-equity ratio of 2.42, a current ratio of 5.35 and a quick ratio of 5.35. The stock’s fifty day moving average price is $54.71 and its two-hundred day moving average price is $56.31. Cloudflare, Inc. has a one year low of $37.37 and a one year high of $221.64. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of -80.57 and a beta of 1.08.

Analyst Ratings Changes

NET has been the subject of a number of recent research reports. Citigroup upped their price target on Cloudflare to $62.00 in a research report on Monday, August 15th. Piper Sandler upped their price objective on Cloudflare from $57.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Cantor Fitzgerald upped their price objective on Cloudflare from $55.00 to $65.00 in a research note on Friday, November 4th. KeyCorp dropped their price objective on Cloudflare from $98.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Finally, Guggenheim assumed coverage on Cloudflare in a research note on Friday, August 12th. They set a “neutral” rating and a $82.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $90.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Cloudflare by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock valued at $1,399,341,000 after buying an additional 1,398,081 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Cloudflare by 2.5% during the 3rd quarter. Baillie Gifford & Co. now owns 24,725,247 shares of the company’s stock worth $1,367,553,000 after purchasing an additional 610,639 shares in the last quarter. Capital World Investors grew its holdings 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 worth $2,040,462,000 after purchasing an additional 5,698,601 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Cloudflare by 2.0% during the 3rd quarter. Sands Capital Management LLC now owns 15,956,268 shares of the company’s stock worth $882,541,000 after purchasing an additional 312,315 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Cloudflare by 4.2% during the 1st quarter. BlackRock Inc. now owns 15,091,856 shares of the company’s stock worth $1,806,495,000 after purchasing an additional 611,459 shares in the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

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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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