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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,216,106. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 transaction of $4,665,319.04.
• On Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 shares were sold at an average price of $93.95, for a total value of $4,921,476.80.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $112.69 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $119.42. The stock’s 50-day moving average is $98.69 and its 200-day moving average is $86.41.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Equities analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Mizuho lifted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $92.00 to $130.00 in a research note on Monday, December 2nd. Finally, BNP Paribas assumed coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.81.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NET. CVA Family Office LLC lifted its position in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Quarry LP increased its position in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the third quarter worth about $38,000. Quest Partners LLC acquired a new position in Cloudflare during the third quarter valued at approximately $54,000. Finally, Blue Trust Inc. grew its stake in Cloudflare by 37,600.0% in the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

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.