Cloudflare, Inc. (NYSE:NET) CEO Sells $8,970,760.00 in Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the sale, the chief executive officer now directly owns 381,213 shares of the company's stock, valued at approximately $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The sale 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, 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 transaction of $9,409,737.92.
• On Thursday, May 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $152.68, for a total transaction of $7,997,989.12.
• On Tuesday, May 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $148.85, for a total transaction of $7,797,358.40.
• On Tuesday, April 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92.
• On Thursday, April 10th, Matthew Prince sold 2,311 shares of Cloudflare stock. The stock was sold at an average price of $107.75, for a total value of $249,010.25.
• On Wednesday, March 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88.
• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $116.47, for a total transaction of $6,101,164.48.

Cloudflare Trading Up 0.5%

Shares of NYSE NET traded up $0.88 during midday trading on Friday, reaching $171.69. 6,251,147 shares of the stock were exchanged, compared to its average volume of 3,159,642. The stock has a 50 day moving average price of $139.61 and a 200-day moving average price of $129.85. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $59.51 billion, a P/E ratio of -780.40 and a beta of 1.84. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $181.81.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The firm's revenue was up 26.5% on a year-over-year basis. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on NET. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 16th. Needham & Company LLC raised their price target on Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a report on Monday, May 12th. KeyCorp assumed coverage on Cloudflare in a report on Friday, June 6th. They issued an "overweight" rating and a $210.00 target price for the company. Finally, Jefferies Financial Group lowered their price target on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $145.92.

Institutional Trading of Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. Mather Group LLC. boosted its position in shares of Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after acquiring an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new position in Cloudflare during the first quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its stake in Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare during the 4th quarter valued at $43,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.