Cloudflare, Inc. (NYSE:NET) CEO Sells $5,007,386.56 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $18,370,199.43. This trade represents a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $4,665,319.04.
• On Thursday, October 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $90.92, for a total transaction of $4,762,753.28.
• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $93.95, for a total transaction of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.55, for a total value of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04.

Cloudflare Trading Down 2.3 %

NYSE NET opened at $89.79 on Friday. The stock has a market capitalization of $30.68 billion, a P/E ratio of -345.33 and a beta of 1.10. The business has a 50 day simple moving average of $86.12 and a 200 day simple moving average of $80.88. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Research analysts expect that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NET. Mizuho upped their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Piper Sandler boosted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $92.88.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CVA Family Office LLC grew its holdings in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Cloudflare during the 2nd quarter valued at approximately $29,000. Quarry LP boosted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after acquiring an additional 421 shares during the period. 82.68% of the stock is owned by institutional investors.

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.