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 company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 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.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00.
• 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 Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56.
• 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 value 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.

Cloudflare Trading Up 1.9 %

Shares of NYSE:NET traded up $2.15 during midday trading on Wednesday, reaching $115.82. The company had a trading volume of 3,029,091 shares, compared to its average volume of 3,242,758. The company has a fifty day simple moving average of $103.82 and a two-hundred day simple moving average of $89.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of -445.46 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42.

Cloudflare (NYSE:NET) last announced its earnings results 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 analysts’ expectations of $423.65 million. Research analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC increased its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the period. Quarry LP increased its stake in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the period. Capital Performance Advisors LLP acquired a new position in Cloudflare in the 3rd quarter valued at approximately $38,000. Versant Capital Management Inc lifted its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on NET shares. The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their target price for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Royal Bank of Canada increased their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Wells Fargo & Company boosted their price target on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $102.30.

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.