Insider Selling: Cloudflare (NYSE:NET) CEO Sells $8,146,773.44 in Stock

Key Points

• Cloudflare CEO Matthew Prince sold shares worth $8.15 million on July 2 at an average price of $242.24, and the transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• Prince has been actively selling stock in recent weeks, with multiple additional transactions disclosed around the same period, including sales on July 1 and July 6 totaling millions more.
• Analyst sentiment remains broadly positive, with recent upgrades including Scotiabank raising Cloudflare to sector outperform and boosting its price target to $300, while the stock’s average analyst target stands at $244.23.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 33,631 shares of the company's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $242.24, for a total transaction of $8,146,773.44. 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.

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

• On Monday, July 6th, Matthew Prince sold 52,383 shares of Cloudflare stock. The stock was sold at an average price of $247.28, for a total value of $12,953,268.24.
• On Wednesday, July 1st, Matthew Prince sold 52,422 shares of Cloudflare stock. The stock was 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 stock was 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 shares were 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 value 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 value of $11,035,213.44.
• On Tuesday, May 19th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were 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 stock was 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.

Get Cloudflare SMS alerts:

Sign Up

Cloudflare Stock Performance

NYSE NET opened at $247.46 on Tuesday. The company has a fifty day moving average price of $226.93 and a 200-day moving average price of $205.29. The firm has a market cap of $87.47 billion, a price-to-earnings ratio of -989.84, a PEG ratio of 244.14 and a beta of 1.67. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.96. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year high of $276.82.

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

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.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the company. Wiser Advisor Group LLC purchased a new stake in Cloudflare in the 3rd quarter worth approximately $26,000. HM Payson & Co. purchased a new position in Cloudflare during the fourth quarter worth about $25,000. CX Institutional boosted its position in shares of Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after acquiring an additional 44 shares during the last quarter. Wexford Capital LP purchased a new stake in Cloudflare in the third quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Cloudflare by 105.6% during the 3rd quarter. Ameriflex Group Inc. now owns 148 shares of the company's stock worth $32,000 after acquiring an additional 76 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NET. Mizuho upped their price objective on Cloudflare from $235.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, June 10th. New Street Research reiterated a "market outperform" rating on shares of Cloudflare in a research note on Monday, June 15th. UBS Group lifted their price target on shares of Cloudflare from $220.00 to $250.00 and gave the stock a "neutral" rating in a report on Wednesday, June 10th. Scotiabank raised Cloudflare from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $225.00 to $300.00 in a report on Tuesday. Finally, Barclays reiterated an "overweight" rating and set a $250.00 price target on shares of Cloudflare in a research note on Monday, June 1st. Twenty-two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Cloudflare has an average rating of "Moderate Buy" and an average price target of $244.23.

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.

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.