Cloudflare, Inc. (NYSE:NET) CEO Sells $5,919,392.00 in Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,216,106. This trade represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 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 transaction 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 transaction 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 value of $4,921,476.80.

Cloudflare Stock Performance

Shares of Cloudflare stock traded up $4.11 during trading hours on Friday, reaching $112.69. The company had a trading volume of 5,113,855 shares, compared to its average volume of 3,167,304. The firm has a market cap of $38.67 billion, a PE ratio of -433.42 and a beta of 1.10. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $119.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a fifty day simple moving average of $98.31 and a 200 day simple moving average of $86.10.

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

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the company. Baillie Gifford & Co. boosted its stake in Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company's stock valued at $2,710,419,000 after buying an additional 2,575,396 shares during the period. Marshall Wace LLP boosted its position in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock valued at $128,265,000 after acquiring an additional 855,334 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the third quarter worth about $25,588,000. American Century Companies Inc. increased its position in shares of Cloudflare by 24.8% in the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company's stock worth $115,526,000 after purchasing an additional 277,228 shares during the last quarter. Finally, Glynn Capital Management LLC purchased a new stake in Cloudflare in the second quarter valued at approximately $16,765,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on NET shares. Mizuho upped their price target on Cloudflare from $102.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Stifel Nicolaus upgraded shares of Cloudflare from a "hold" rating to a "buy" rating and upped their target price for the stock from $95.00 to $136.00 in a report on Tuesday. UBS Group raised their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price objective for the company. Finally, Morgan Stanley upgraded Cloudflare from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $97.81.

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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