Insider Selling: Cloudflare, Inc. (NYSE:NET) CEO Sells 52,384 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $59,279,290.07. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $7,597,775.36.
• 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 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 transaction 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 transaction 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 transaction of $5,919,392.00.

Cloudflare Stock Performance

NET stock opened at $145.48 on Friday. The company has a market capitalization of $49.93 billion, a P/E ratio of -661.26 and a beta of 1.12. The company has a 50-day simple moving average of $132.65 and a 200 day simple moving average of $104.96. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly 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%. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter worth about $38,000. Quarry LP raised its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare in the fourth quarter worth about $43,000. Quest Partners LLC bought a new stake in Cloudflare in the third quarter worth about $54,000. Finally, Park Square Financial Group LLC bought a new stake in Cloudflare in the fourth quarter worth about $56,000. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of research reports. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Guggenheim lifted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Susquehanna lifted their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Scotiabank boosted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Jefferies Financial Group boosted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $136.28.

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.