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

Key Points

• Matthew Prince, CEO of Cloudflare, sold 52,384 shares of the company's stock on October 14th for a total of approximately $11.29 million at an average price of $215.51 per share.
• The company's stock experienced a decline, trading down by $6.41 to $210.97, reflecting its one-year low of $85.60 and a high of $230.10.
• Cloudflare reported a revenue increase of 27.8% year-over-year with $512.32 million for the quarter, surpassing analyst estimates.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $215.51, for a total transaction of $11,289,275.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, October 16th, Matthew Prince sold 52,277 shares of Cloudflare stock. The shares were sold at an average price of $213.94, for a total value of $11,184,141.38.
• On Thursday, October 16th, Matthew Prince sold 107 shares of Cloudflare stock. The shares were sold at an average price of $220.79, for a total transaction of $23,624.53.
• On Thursday, September 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $226.46, for a total value of $11,862,880.64.
• On Tuesday, September 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $217.12, for a total value of $11,373,614.08.
• On Wednesday, August 20th, Matthew Prince sold 51,848 shares of Cloudflare stock. The shares were sold at an average price of $190.46, for a total value of $9,874,970.08.
• On Monday, August 18th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $200.43, for a total value of $10,499,325.12.
• On Wednesday, August 20th, Matthew Prince sold 536 shares of Cloudflare stock. The stock was sold at an average price of $194.84, for a total value of $104,434.24.

Cloudflare Price Performance

Shares of NYSE NET traded down $6.41 during mid-day trading on Thursday, reaching $210.97. The company had a trading volume of 2,586,679 shares, compared to its average volume of 3,346,638. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a one year low of $85.60 and a one year high of $230.10. The firm has a market cap of $73.52 billion, a price-to-earnings ratio of -620.50 and a beta of 1.99. The business's 50-day simple moving average is $212.53 and its 200 day simple moving average is $176.89.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.Cloudflare's revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $0.20 earnings per share. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Scotiabank boosted their price objective on Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Piper Sandler boosted their price objective on Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Guggenheim boosted their target price on Cloudflare from $70.00 to $111.00 and gave the company a "sell" rating in a research note on Friday, August 1st. Needham & Company LLC boosted their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $196.54.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently bought and sold shares of NET. Norges Bank purchased a new stake in Cloudflare in the 2nd quarter worth approximately $541,462,000. Groupama Asset Managment bought a new position in Cloudflare during the 2nd quarter valued at approximately $225,204,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Cloudflare by 33.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after buying an additional 786,063 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cloudflare in the 1st quarter worth $88,203,000. Finally, American Century Companies Inc. grew its stake in shares of Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after acquiring an additional 779,819 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

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.

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