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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,226,652.76. This trade represents a 82.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32.
• 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 Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00.
• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 shares were 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 transaction of $4,921,476.80.

Cloudflare Stock Performance

NYSE NET opened at $115.82 on Thursday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $119.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a 50-day simple moving average of $103.82 and a 200 day simple moving average of $89.73. The company has a market capitalization of $39.75 billion, a PE ratio of -445.46 and a beta of 1.10.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after acquiring an additional 119 shares during the period. Quarry LP increased its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its holdings in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after buying an additional 136 shares during the period. OneDigital Investment Advisors LLC lifted its position in Cloudflare by 3.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after purchasing an additional 137 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NET. Royal Bank of Canada upped their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Scotiabank increased their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, Piper Sandler upped their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $102.30.

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.