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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 transaction of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $78.06, for a total transaction of $4,089,095.04.

Cloudflare Stock Down 2.3 %

Shares of NYSE NET traded down $2.15 during trading on Friday, reaching $89.79. 3,358,609 shares of the stock were exchanged, compared to its average volume of 3,178,625. The business’s 50-day moving average price is $86.12 and its 200 day moving average price is $80.88. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00. 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 capitalization of $30.68 billion, a price-to-earnings ratio of -345.33 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on NET. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.88.

Institutional Trading of Cloudflare

Several institutional investors have recently added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Empowered Funds LLC grew its position in shares of Cloudflare by 24.3% during the first quarter. Empowered Funds LLC now owns 3,528 shares of the company’s stock worth $342,000 after acquiring an additional 689 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Cloudflare by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 82,392 shares of the company’s stock worth $7,968,000 after acquiring an additional 6,714 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Cloudflare during the first quarter worth about $676,000. Finally, Bleakley Financial Group LLC grew its position in shares of Cloudflare by 5.6% during the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock worth $322,000 after acquiring an additional 178 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.