Cloudflare, Inc. (NYSE:NET) CEO Sells $7,511,341.76 in Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $59,279,290.07. The trade was a 11.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 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.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00.

Cloudflare Stock Up 3.4 %

Shares of NYSE NET opened at $145.48 on Friday. The firm’s 50-day simple moving average is $133.31 and its 200 day simple moving average is $105.43. The company has a market cap of $49.93 billion, a price-to-earnings ratio of -661.26 and a beta of 1.12. 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 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NET. Capital Performance Advisors LLP acquired a new position in Cloudflare during the 3rd quarter valued at about $38,000. Quarry LP lifted its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in Cloudflare during the 4th quarter valued at about $43,000. Quest Partners LLC acquired a new position in Cloudflare during the 3rd quarter valued at about $54,000. Finally, Park Square Financial Group LLC acquired a new position in Cloudflare during the 4th quarter valued at about $56,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NET. Royal Bank of Canada boosted their target price on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 target price on shares of Cloudflare in a research report on Tuesday, February 18th. The Goldman Sachs Group boosted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Morgan Stanley boosted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Guggenheim boosted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus price target of $136.28.

About Cloudflare

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.