Insider Selling: Cloudflare (NYSE:NET) CEO Sells $11,749,731.20 in Stock

Key Points

• Cloudflare CEO Matthew Prince sold 52,384 shares on June 24 at an average price of $224.30, totaling about $11.75 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Prince has been a consistent seller of Cloudflare stock in recent months, including multiple transactions in June, May, and April, each involving roughly 52,384 shares and proceeds of around $10.7 million to $11.4 million.
• Cloudflare’s stock was trading lower on the day of the report, while the company continues to show strong revenue growth and has drawn bullish analyst attention, with a consensus rating of Moderate Buy and a target price of $241.35.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $224.30, for a total transaction of $11,749,731.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $217.91, for a total transaction of $11,414,997.44.
• 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 value 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 value 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 value of $11,047,942.75.
• On Monday, April 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $210.02, for a total value of $11,001,687.68.
• 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 Stock Performance

NYSE:NET traded down $2.31 during mid-day trading on Wednesday, hitting $222.63. 2,277,739 shares of the stock were exchanged, compared to its average volume of 3,915,500. The firm's 50-day simple moving average is $220.16 and its 200 day simple moving average is $203.20. The stock has a market capitalization of $78.69 billion, a price-to-earnings ratio of -890.53, a price-to-earnings-growth ratio of 226.55 and a beta of 1.70. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two 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.

Cloudflare (NYSE:NET - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $620.83 million. Cloudflare had a negative return on equity of 5.65% and a negative net margin of 3.72%.The company's revenue for the quarter was up 33.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. 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 analysts anticipate that Cloudflare, Inc. will post 0.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NET. BTIG Research raised their price target on shares of Cloudflare from $243.00 to $269.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, June 10th. Morgan Stanley restated an "overweight" rating and set a $305.00 target price on shares of Cloudflare in a research report on Thursday, June 4th. Needham & Company LLC raised their target price on shares of Cloudflare from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Finally, TD Cowen reiterated a "buy" rating on shares of Cloudflare in a research report on Wednesday, June 10th. Twenty-one investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Cloudflare has a consensus rating of "Moderate Buy" and a consensus target price of $241.35.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Cloudflare by 34.2% during the 1st quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock worth $750,000 after acquiring an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Cloudflare during the second quarter valued at approximately $424,000. Cerity Partners LLC raised its position in Cloudflare by 30.1% during the second quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock valued at $5,391,000 after purchasing an additional 6,363 shares in the last quarter. Sei Investments Co. lifted its stake in Cloudflare by 40.1% during the second quarter. Sei Investments Co. now owns 329,036 shares of the company's stock worth $64,432,000 after purchasing an additional 94,112 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Cloudflare by 14.6% during the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock worth $3,224,000 after purchasing an additional 2,093 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Cloudflare Company Profile

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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