Matthew Prince Sells 18,752 Shares of Cloudflare (NYSE:NET) Stock

Key Points

• Cloudflare CEO Matthew Prince sold 18,752 shares on July 2 at an average price of $242.24, totaling about $4.54 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Prince has been actively trimming his stake, with multiple additional sales disclosed in recent weeks, including a July 1 sale of 52,422 shares for about $13.06 million.
• Cloudflare’s stock and fundamentals remain strong: shares recently traded at $247.46, near the company’s 52-week high of $276.82, while its latest quarterly results beat expectations on both earnings and revenue and revenue grew 33.5% year over year.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 18,752 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $242.24, for a total transaction of $4,542,484.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $13,057,795.98.
• 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 Wednesday, June 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was 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 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 shares were sold at an average price of $213.59, for a total value 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 Price Performance

Shares of NYSE NET traded up $5.05 during trading on Monday, reaching $247.46. The company had a trading volume of 2,072,556 shares, compared to its average volume of 4,483,730. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.29. Cloudflare, Inc. has a twelve month low of $158.83 and a twelve month high of $276.82. The stock has a 50-day moving average price of $226.09 and a two-hundred day moving average price of $204.94. The stock has a market capitalization of $87.47 billion, a PE ratio of -989.84, a price-to-earnings-growth ratio of 244.14 and a beta of 1.67.

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

Hedge Funds Weigh In On Cloudflare

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. New Street Research restated a "market outperform" rating on shares of Cloudflare in a research report on Monday, June 15th. Jefferies Financial Group began coverage on Cloudflare in a report on Wednesday, April 15th. They issued a "buy" rating for the company. Guggenheim restated a "sell" rating and set a $140.00 price objective on shares of Cloudflare in a report on Wednesday, June 10th. Truist Financial lifted their price objective on Cloudflare from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $230.00 target price (up from $224.00) on shares of Cloudflare in a research note on Wednesday, June 10th. Twenty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of "Moderate Buy" and an average price target of $241.35.

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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