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 that occurred on Monday, March 17th. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $48,150,212.11. This represents a 11.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $117.32, for a total value of $6,145,690.88.
• 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 shares were 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 transaction of $5,957,632.32.
• On Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were 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 0.3 %

NYSE:NET opened at $117.89 on Friday. The firm has a market capitalization of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The stock’s 50 day moving average price is $136.61 and its two-hundred day moving average price is $109.54. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a report on Tuesday, February 11th. Stifel Nicolaus raised their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Scotiabank raised their target price on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $131.64.

Institutional Trading of Cloudflare

Several institutional investors have recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its stake in Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after purchasing an additional 58 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the period. Atomi Financial Group Inc. boosted its stake in Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the period. Baxter Bros Inc. boosted its stake in Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after purchasing an additional 100 shares during the period. Finally, Ellevest Inc. raised its holdings in Cloudflare by 2.3% in the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.