Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince Sells 52,384 Shares

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $7,511,341.76.
• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were 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 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.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00.

Cloudflare Price Performance

NET stock opened at $140.74 on Friday. The company has a market capitalization of $48.30 billion, a PE ratio of -639.73 and a beta of 1.12. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock’s 50 day moving average is $132.01 and its two-hundred day moving average is $104.71. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NET has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. UBS Group boosted their price target on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus target price of $136.28.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare in the 3rd quarter worth approximately $38,000. Quarry LP raised its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the 4th quarter worth about $43,000. Quest Partners LLC acquired a new position in shares of Cloudflare in the 3rd quarter valued at about $54,000. Finally, Larson Financial Group LLC grew its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the last quarter. 82.68% of the stock is 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.