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 business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.67, for a total value of $3,911,513.28. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $17,219,798.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, May 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $72.51, for a total value of $3,798,363.84.
• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.29, for a total transaction of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.04, for a total value of $5,030,959.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.25, for a total transaction of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total transaction of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $98.75, for a total value of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56.

Cloudflare Trading Down 2.3 %

Shares of NYSE:NET traded down $1.68 during midday trading on Wednesday, reaching $72.45. The company had a trading volume of 3,160,799 shares, compared to its average volume of 3,954,337. The company has a fifty day simple moving average of $92.69 and a two-hundred day simple moving average of $83.93. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of -139.85 and a beta of 1.15. Cloudflare, Inc. has a 1-year low of $45.47 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NET. Bank of America lifted their price target on shares of Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Tuesday. JMP Securities increased their target price on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Piper Sandler reissued a “neutral” rating and set a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a report on Friday, May 3rd. Finally, Susquehanna dropped their price objective on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.48.

Institutional Trading of Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Deutsche Bank AG boosted its position in shares of Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after buying an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Cloudflare during the 3rd quarter worth about $569,000. International Assets Investment Management LLC purchased a new position in Cloudflare during the 4th quarter valued at about $11,639,000. Blueshift Asset Management LLC increased its holdings in shares of Cloudflare by 100.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier lifted its position in shares of Cloudflare by 4.5% in the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after purchasing an additional 17,600 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.