Cloudflare, Inc. (NYSE:NET) CEO Sells $6,145,690.88 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred 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 owns 413,413 shares in the company, valued at approximately $48,501,613.16. The trade was a 11.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 stock was 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 Price Performance

Cloudflare stock opened at $118.95 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The business has a fifty day moving average price of $136.73 and a 200-day moving average price of $109.79. 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 capitalization of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted 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%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare during the fourth quarter worth about $43,000. Quarry LP grew its position in Cloudflare by 38.6% during the third 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. Park Square Financial Group LLC purchased a new position in Cloudflare during the fourth quarter worth about $56,000. Larson Financial Group LLC grew its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NET. Truist Financial increased their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Guggenheim increased their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Scotiabank increased their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $131.64.

About Cloudflare

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.