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 firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $48,501,613.16. This represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48.
• On Thursday, February 27th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76.
• 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 Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.98, for a total value of $5,970,728.32.
• 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 value of $5,861,769.60.

Cloudflare Stock Up 2.1 %

Cloudflare stock traded up $2.36 during mid-day trading on Wednesday, reaching $117.48. 2,974,982 shares of the company were exchanged, compared to its average volume of 3,016,373. The business has a fifty day moving average of $136.54 and a 200 day moving average of $109.42. 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 firm has a market cap of $40.54 billion, a P/E ratio of -534.02 and a beta of 1.27. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter worth about $43,000. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter valued at about $54,000. Park Square Financial Group LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at about $56,000. Finally, Larson Financial Group LLC grew its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NET shares. Royal Bank of Canada decreased their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Guggenheim upped their price objective on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. UBS Group decreased their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group decreased their price objective on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Stifel Nicolaus upped their price objective on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $130.04.

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.