Cloudflare, Inc. (NYSE:NET) CEO Sells $4,089,095.04 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04. Following the completion of the sale, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $840,003.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Thursday, August 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.70, for a total value of $4,017,852.80.
• On Thursday, July 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $82.67, for a total value of $4,330,585.28.
• On Tuesday, July 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $82.96, for a total value of $4,345,776.64.
• On Thursday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $74.46, for a total transaction of $3,900,512.64.
• On Tuesday, June 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $72.04, for a total transaction of $3,773,743.36.

Cloudflare Trading Down 3.0 %

NET stock traded down $2.37 during midday trading on Friday, reaching $76.03. The company’s stock had a trading volume of 1,927,375 shares, compared to its average volume of 3,351,029. The business’s 50-day simple moving average is $80.41 and its 200-day simple moving average is $83.86. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The stock has a market cap of $25.83 billion, a PE ratio of -143.45 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the company. Riverview Trust Co bought a new position in Cloudflare during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare in the 2nd quarter valued at approximately $29,000. Quarry LP increased its stake in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in Cloudflare during the 4th quarter worth approximately $38,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NET. Wolfe Research started coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Guggenheim boosted their price target on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Citigroup cut their price objective on Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Morgan Stanley restated an “equal weight” rating and set a $92.00 price target on shares of Cloudflare in a report on Monday, June 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $92.29.

Cloudflare Company Profile

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.