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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,226,652.76. This trade represents a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32.
• 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.
• On Wednesday, December 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00.
• On Friday, November 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04.
• On Wednesday, November 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56.
• 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 shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80.

Cloudflare Price Performance

Shares of NYSE NET opened at $115.82 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $119.42. The company has a market cap of $39.75 billion, a PE ratio of -445.46 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a 50-day simple moving average of $104.34 and a two-hundred day simple moving average of $89.91.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Cloudflare during the 3rd quarter worth approximately $25,588,000. American Century Companies Inc. lifted its stake in Cloudflare by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock valued at $115,526,000 after acquiring an additional 277,228 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Cloudflare in the 3rd quarter valued at $147,160,000. Finally, Parnassus Investments LLC increased its stake in shares of Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NET. Royal Bank of Canada upped their target price on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Scotiabank upped their price objective on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and upped their price target for the stock from $77.00 to $140.00 in a report on Thursday, January 2nd. Finally, Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.30.

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.