Cloudflare (NYSE:NET) CEO Sells 52,383 Shares of Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,383 shares of Cloudflare stock in a transaction on Monday, July 6th. The shares were sold at an average price of $247.28, for a total transaction of $12,953,268.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, July 2nd, Matthew Prince sold 33,631 shares of Cloudflare stock. The shares were sold at an average price of $242.24, for a total value of $8,146,773.44.
• On Wednesday, July 1st, Matthew Prince sold 52,422 shares of Cloudflare stock. The shares were sold at an average price of $249.09, for a total value of $13,057,795.98.
• On Thursday, July 2nd, Matthew Prince sold 18,752 shares of Cloudflare stock. The shares were sold at an average price of $242.24, for a total value 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 value 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 transaction of $147,365.58.

Cloudflare Trading Up 2.1%

Shares of Cloudflare stock opened at $247.46 on Tuesday. The firm has a market cap of $87.47 billion, a price-to-earnings ratio of -989.84, a price-to-earnings-growth ratio of 244.14 and a beta of 1.67. Cloudflare, Inc. has a 52-week low of $158.83 and a 52-week high of $276.82. The company's 50-day simple moving average is $226.93 and its 200-day simple moving average is $205.29. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.29.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The firm had revenue of $639.75 million during the quarter, compared to the consensus estimate of $620.83 million. Cloudflare had a negative net margin of 3.72% and a negative return on equity of 5.65%. The firm's revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. 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 anticipate that Cloudflare, Inc. will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. RDA Financial Network lifted its stake in Cloudflare by 8.2% in the 2nd quarter. RDA Financial Network now owns 16,350 shares of the company's stock valued at $4,010,000 after buying an additional 1,238 shares in the last quarter. Versant Capital Management Inc grew its stake in Cloudflare by 84.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,169 shares of the company's stock worth $287,000 after acquiring an additional 534 shares during the period. CX Institutional grew its position in shares of Cloudflare by 49.4% in the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after purchasing an additional 44 shares during the period. Pacer Advisors Inc. grew its holdings in Cloudflare by 135.1% in the 1st quarter. Pacer Advisors Inc. now owns 583 shares of the company's stock valued at $120,000 after buying an additional 335 shares during the period. Finally, Wealth High Governance Capital Ltda acquired a new position in Cloudflare during the first quarter worth approximately $8,688,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $230.00 price target (up from $224.00) on shares of Cloudflare in a research note on Wednesday, June 10th. Citizens Jmp reissued a "market outperform" rating and set a $270.00 price objective on shares of Cloudflare in a report on Monday, June 15th. Truist Financial upped their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Piper Sandler reaffirmed an "overweight" rating on shares of Cloudflare in a report on Wednesday, June 10th. Finally, The Goldman Sachs Group lowered Cloudflare from a "buy" rating to a "sell" rating in a research note on Wednesday, April 15th. Twenty-two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $244.23.

More Cloudflare News

Here are the key news stories impacting Cloudflare this week:

• Positive Sentiment: Scotiabank upgraded Cloudflare to sector outperform and lifted its price target to $300, signaling improved confidence in the company’s growth outlook. Scotiabank Upgrades Cloudflare NYSE: NET to Sector Outperform
• Positive Sentiment: Recent coverage highlighted Cloudflare as a high-growth cybersecurity stock, helped by its July 1 announcement of new classifications, enhanced analytics, and commercial partnerships tied to transparent AI companies, which could support future monetization and demand. Is Cloudflare (NET) the Best High Growth Cybersecurity Stock to Buy Now?
• Neutral Sentiment: CEO Matthew Prince disclosed multiple stock sales under a pre-arranged Rule 10b5-1 plan. While the sales were sizable, they were automatic and do not necessarily indicate a change in the company’s fundamentals.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.