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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $116.47, for a total transaction of $6,101,164.48. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $48,150,212.11. This trade represents a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $117.32, for a total transaction of $6,145,690.88.
• 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 Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were 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 shares were 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 shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60.

Cloudflare Trading Up 2.1 %

Shares of NET opened at $117.48 on Thursday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a market cap of $40.54 billion, a P/E ratio of -534.02 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company’s fifty day simple moving average is $136.54 and its 200-day simple moving average is $109.42.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

NET has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Baird R W cut shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Mizuho reduced their target price on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $130.04.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in NET. Quarry LP raised its stake in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare in the 4th quarter worth about $43,000. Quest Partners LLC purchased a new position in Cloudflare in the 3rd quarter worth about $54,000. Park Square Financial Group LLC purchased a new position in Cloudflare in the 4th quarter worth about $56,000. Finally, Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.