Insider Selling: Cloudflare, Inc. (NYSE:NET) CEO Sells 52,384 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $96.04, for a total transaction of $5,030,959.36. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares of the company’s stock, valued at approximately $22,147,976.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $95.29, for a total value of $4,991,671.36.
• On Thursday, March 14th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.25, for a total value of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $96.66, for a total value of $5,063,437.44.
• On Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $98.75, for a total transaction of $5,172,920.00.
• On Wednesday, February 21st, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56.

Cloudflare Stock Up 1.3 %

Cloudflare stock traded up $1.26 during midday trading on Thursday, reaching $96.09. The company’s stock had a trading volume of 1,662,692 shares, compared to its average volume of 3,890,012. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The stock has a market capitalization of $32.45 billion, a P/E ratio of -174.71 and a beta of 1.12. The stock’s 50-day simple moving average is $96.24 and its 200-day simple moving average is $80.59. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Tuesday, February 13th. JMP Securities increased their target price on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price (up from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Morgan Stanley lifted their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, KeyCorp upped their target price on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $87.50.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in Cloudflare in the 1st quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Cloudflare during the third quarter worth $38,000. ICA Group Wealth Management LLC purchased a new position in shares of Cloudflare during the fourth quarter worth $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare in the fourth quarter valued at $39,000. Finally, Providence Capital Advisors LLC boosted its holdings in Cloudflare by 6,065.0% in the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after purchasing an additional 2,426 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.