Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $192.27, for a total transaction of $10,071,871.68. Following the sale, the chief executive officer directly owned 381,213 shares of the company's stock, valued at approximately $73,295,823.51. This trade represents a 12.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Matthew Prince also recently made the following trade(s):
- On Thursday, July 10th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $184.58, for a total value of $9,669,038.72.
- On Friday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00.
- On Wednesday, June 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $179.63, for a total value of $9,409,737.92.
- On Thursday, May 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $152.68, for a total value of $7,997,989.12.
- On Tuesday, May 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $148.85, for a total value of $7,797,358.40.
Cloudflare Trading Down 0.4%
Shares of NYSE:NET traded down $0.74 during midday trading on Friday, reaching $181.18. The company had a trading volume of 2,780,115 shares, compared to its average volume of 3,169,136. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $198.01. The firm has a market cap of $62.80 billion, a price-to-earnings ratio of -787.74 and a beta of 1.85. The company has a fifty day simple moving average of $169.44 and a two-hundred day simple moving average of $140.88.
Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The company's revenue was up 26.5% compared to the same quarter last year. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.
Institutional Investors Weigh In On Cloudflare
A number of institutional investors have recently bought and sold shares of the business. Wealth Management Partners LLC boosted its position in Cloudflare by 27.4% during the 2nd quarter. Wealth Management Partners LLC now owns 5,427 shares of the company's stock worth $1,047,000 after acquiring an additional 1,168 shares during the period. Shelton Wealth Management LLC purchased a new stake in shares of Cloudflare during the 2nd quarter worth about $1,373,000. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Cloudflare during the 2nd quarter worth about $226,000. Assenagon Asset Management S.A. raised its stake in shares of Cloudflare by 8.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,991 shares of the company's stock worth $1,369,000 after purchasing an additional 533 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Cloudflare by 4.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 58,716 shares of the company's stock worth $11,498,000 after purchasing an additional 2,538 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on NET. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price for the company in a research note on Monday, May 12th. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and increased their target price for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Piper Sandler reissued a "neutral" rating and set a $151.00 price target (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Cowen reissued a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. Finally, Guggenheim upped their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average target price of $148.92.
Check Out Our Latest Research Report on NET
About Cloudflare
(
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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.
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