Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince Sells 52,384 Shares

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $90.92, for a total value of $4,762,753.28. Following the transaction, the chief executive officer now owns 10,761 shares in the company, valued at approximately $978,390.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, October 15th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $93.95, for a total value of $4,921,476.80.
• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Wednesday, September 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $78.06, for a total value of $4,089,095.04.
• On Thursday, August 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.70, for a total transaction of $4,017,852.80.

Cloudflare Trading Down 1.1 %

NET stock opened at $90.34 on Friday. The firm’s fifty day simple moving average is $82.13 and its two-hundred day simple moving average is $81.05. The stock has a market capitalization of $30.70 billion, a price-to-earnings ratio of -170.45 and a beta of 1.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. As a group, analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Cloudflare in the second quarter worth about $7,319,000. Price T Rowe Associates Inc. MD raised its stake in shares of Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after acquiring an additional 149,866 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Cloudflare by 2.0% in the first quarter. Swiss National Bank now owns 886,900 shares of the company’s stock valued at $85,879,000 after purchasing an additional 17,700 shares during the period. Comerica Bank increased its holdings in Cloudflare by 19.9% during the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock worth $2,765,000 after purchasing an additional 4,733 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Cloudflare by 13.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock valued at $15,935,000 after purchasing an additional 22,900 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NET. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Susquehanna lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wolfe Research started coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Robert W. Baird boosted their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Guggenheim increased their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $91.72.

About Cloudflare

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.