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

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the sale, the chief executive officer now directly owns 10,762 shares of the company's stock, valued at approximately $1,204,267.80. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 transaction 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 shares were 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 stock was 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 shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80.

Cloudflare Stock Up 3.8 %

NET traded up $4.11 during trading hours on Friday, hitting $112.69. 5,113,855 shares of the company's stock were exchanged, compared to its average volume of 3,167,304. 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, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42. The stock's 50-day moving average is $98.31 and its two-hundred day moving average is $86.10. The stock has a market cap of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to analysts' expectations of $423.65 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NET. Scotiabank boosted their price objective on Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Piper Sandler boosted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Stifel Nicolaus raised shares of Cloudflare from a "hold" rating to a "buy" rating and boosted their target price for the stock from $95.00 to $136.00 in a research note on Tuesday. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday. Finally, BNP Paribas initiated coverage on Cloudflare in a report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price target on the stock. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $97.81.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC increased its stake in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP increased its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter valued at approximately $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $54,000. Finally, Blue Trust Inc. boosted its stake in shares of Cloudflare by 37,600.0% during the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company's stock worth $62,000 after acquiring an additional 752 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

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.

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