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 that occurred on Monday, March 17th. The stock was sold at an average price of $116.47, for a total value of $6,101,164.48. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $48,150,212.11. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed 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 value 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 value of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76.
• 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 value 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 value 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 value of $5,861,769.60.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $1.01 during midday trading on Friday, hitting $118.95. The company had a trading volume of 4,321,599 shares, compared to its average volume of 3,026,045. 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 company has a market cap of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a fifty day moving average of $136.73 and a two-hundred day moving average of $110.01.

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Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data 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%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently bought and sold shares of NET. Quarry LP increased its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after buying an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare in the 4th quarter worth $43,000. Quest Partners LLC purchased a new stake in Cloudflare in the 3rd quarter worth $54,000. Park Square Financial Group LLC purchased a new stake in Cloudflare in the 4th quarter worth $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 in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of analyst reports. JMP Securities boosted their price target on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Scotiabank upped their price objective on Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Cantor Fitzgerald upped their price objective on Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Guggenheim upped their price objective on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Finally, Piper Sandler lowered their price objective on Cloudflare from $153.00 to $131.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus price target of $131.64.

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.