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 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 Stock Up 0.3 %

NET stock opened at $117.89 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27. The firm’s 50-day moving average is $136.61 and its two-hundred day moving average is $109.54. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Cloudflare

Institutional investors have recently made changes to their positions in the stock. CreativeOne Wealth LLC lifted its stake in Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after acquiring an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after acquiring an additional 77 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the last quarter. Baxter Bros Inc. lifted its stake in Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after acquiring an additional 100 shares during the last quarter. Finally, Ellevest Inc. lifted its stake in Cloudflare by 2.3% in the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NET has been the subject of several recent research reports. Scotiabank lifted their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Cantor Fitzgerald lifted their price target on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Oppenheimer began coverage on Cloudflare in a research report on Thursday. They issued an “outperform” rating and a $150.00 price target for the company. Susquehanna boosted their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, Truist Financial boosted their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $131.64.

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.