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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $48,501,613.16. This represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $116.47, for a total transaction of $6,101,164.48.
• 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60.

Cloudflare Stock Performance

NYSE:NET opened at $117.48 on Thursday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market cap of $40.54 billion, a P/E ratio of -534.02 and a beta of 1.27. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm’s 50 day moving average is $136.54 and its two-hundred day moving average is $109.42.

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

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently made changes to their positions in the business. Capital World Investors raised its stake in shares of Cloudflare by 0.7% in the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after acquiring an additional 260,415 shares during the period. Geode Capital Management LLC raised its stake in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after acquiring an additional 68,661 shares during the period. Groupama Asset Managment purchased a new position in shares of Cloudflare in the 4th quarter valued at $269,200,000. Norges Bank purchased a new position in shares of Cloudflare in the 4th quarter valued at $249,544,000. Finally, American Century Companies Inc. raised its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after acquiring an additional 1,017,399 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NET. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Guggenheim increased their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Piper Sandler lowered their price target on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus increased their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $130.04.

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.