Cloudflare (NYSE:NET) CEO Matthew Prince Sells 52,422 Shares

Key Points

• Cloudflare CEO Matthew Prince sold 52,422 shares on July 1 at an average price of $249.09, worth about $13.1 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Cloudflare stock was trading up 2.1% to $247.46, near its 52-week high of $276.82. The company’s market cap is about $87.5 billion, and the shares have outperformed their 50-day and 200-day moving averages.
• Analysts remain cautious but generally positive on Cloudflare, with a consensus rating of “Moderate Buy” and an average price target of $241.35. Recent earnings beat estimates, with revenue rising 33.5% year over year to $639.75 million.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,422 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Matthew Prince sold 18,752 shares of Cloudflare stock. The stock was sold at an average price of $242.24, for a total transaction of $4,542,484.48.
• On Monday, June 22nd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $217.91, for a total transaction of $11,414,997.44.
• On Wednesday, June 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $224.30, for a total transaction of $11,749,731.20.
• On Thursday, May 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $210.66, for a total transaction of $11,035,213.44.
• On Tuesday, May 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $204.15, for a total transaction of $10,694,193.60.
• On Wednesday, April 8th, Matthew Prince sold 51,725 shares of Cloudflare stock. The shares were sold at an average price of $213.59, for a total transaction of $11,047,942.75.
• On Wednesday, April 8th, Matthew Prince sold 659 shares of Cloudflare stock. The stock was sold at an average price of $223.62, for a total value of $147,365.58.

Cloudflare Trading Up 2.1%

Shares of NET stock traded up $5.05 during mid-day trading on Monday, hitting $247.46. The company's stock had a trading volume of 2,072,556 shares, compared to its average volume of 4,483,730. The company's fifty day simple moving average is $226.09 and its 200-day simple moving average is $204.94. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $276.82. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $87.47 billion, a PE ratio of -989.84, a P/E/G ratio of 244.14 and a beta of 1.67.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company had revenue of $639.75 million for the quarter, compared to analyst estimates of $620.83 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm's revenue for the quarter was up 33.5% compared to the same quarter last year. Cloudflare has set its FY 2026 guidance at 1.190-1.200 EPS and its Q2 2026 guidance at 0.270-0.270 EPS. As a group, equities research analysts expect that Cloudflare, Inc. will post 0.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NET. UBS Group upped their price objective on shares of Cloudflare from $220.00 to $250.00 and gave the company a "neutral" rating in a report on Wednesday, June 10th. Zacks Research raised Cloudflare from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Susquehanna upped their price target on Cloudflare from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Stifel Nicolaus set a $260.00 price objective on Cloudflare in a research note on Friday, May 8th. Finally, The Goldman Sachs Group downgraded Cloudflare from a "buy" rating to a "sell" rating in a report on Wednesday, April 15th. Twenty-one research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Cloudflare has a consensus rating of "Moderate Buy" and a consensus target price of $241.35.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Cloudflare in the fourth quarter valued at $718,316,000. Jennison Associates LLC raised its stake in Cloudflare by 135.8% in the 1st quarter. Jennison Associates LLC now owns 4,394,484 shares of the company's stock valued at $906,758,000 after acquiring an additional 2,530,872 shares during the period. Corient Private Wealth LLC raised its stake in Cloudflare by 4,042.6% in the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company's stock valued at $275,887,000 after acquiring an additional 1,365,598 shares during the period. Groupama Asset Managment lifted its holdings in Cloudflare by 82.6% during the third quarter. Groupama Asset Managment now owns 2,100,000 shares of the company's stock valued at $450,639,000 after purchasing an additional 950,000 shares during the last quarter. Finally, Swedbank AB boosted its position in Cloudflare by 697.5% during the first quarter. Swedbank AB now owns 927,606 shares of the company's stock worth $191,402,000 after purchasing an additional 811,297 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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