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 that occurred on Tuesday, June 11th. The stock was sold at an average price of $72.04, for a total transaction of $3,773,743.36. Following the transaction, the chief executive officer now directly owns 8,742 shares in the company, valued at approximately $629,773.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.46, for a total transaction of $3,900,512.64.
• On Wednesday, May 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84.
• On Monday, May 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.67, for a total transaction of $3,911,513.28.
• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.29, for a total transaction of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.04, for a total transaction of $5,030,959.36.

Cloudflare Stock Performance

NYSE NET opened at $75.60 on Friday. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The company has a market capitalization of $25.69 billion, a P/E ratio of -142.64 and a beta of 1.08. The company has a fifty day moving average of $79.33 and a 200-day moving average of $85.22.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The company had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NET shares. Robert W. Baird decreased their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Mizuho decreased their price target on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. decreased their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Oppenheimer decreased their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Cloudflare from $108.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.70.

Institutional Trading of Cloudflare

A number of hedge funds have recently made changes to their positions in NET. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cloudflare by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock worth $62,000,000 after acquiring an additional 11,342 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Cloudflare in the third quarter worth $1,069,000. Deutsche Bank AG lifted its stake in Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Cloudflare by 4.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 25,328 shares of the company’s stock worth $1,597,000 after purchasing an additional 973 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Cloudflare by 12.5% in the third quarter. Rafferty Asset Management LLC now owns 43,139 shares of the company’s stock worth $2,719,000 after purchasing an additional 4,795 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

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.