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 firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84. Following the completion of the transaction, the chief executive officer now directly owns 230,612 shares in the company, valued at approximately $16,721,676.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, May 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $74.67, for a total value of $3,911,513.28.
• On Thursday, April 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $95.29, for a total value of $4,991,671.36.
• On Tuesday, April 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $96.04, for a total value of $5,030,959.36.
• 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 transaction of $4,937,192.00.
• On Tuesday, March 12th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $96.66, for a total transaction 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 shares were sold at an average price of $94.59, for a total value of $4,955,002.56.

Cloudflare Stock Down 2.3 %

Shares of Cloudflare stock traded down $1.68 during trading on Wednesday, hitting $72.45. 3,160,799 shares of the stock traded hands, compared to its average volume of 3,954,337. The stock has a market cap of $24.46 billion, a P/E ratio of -139.85 and a beta of 1.15. The company has a fifty day moving average price of $92.69 and a two-hundred day moving average price of $83.93. Cloudflare, Inc. has a twelve month low of $45.47 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Equities research analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, May 3rd. UBS Group dropped their price target on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research report on Friday, May 3rd. Oppenheimer lowered their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JMP Securities upped their price objective on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada lifted their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $89.48.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of NET. Cigna Investments Inc. New boosted its position in Cloudflare by 4.2% during the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares during the period. Yousif Capital Management LLC grew its stake in Cloudflare by 4.0% in the 4th quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after buying an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after acquiring an additional 132 shares during the period. Quent Capital LLC lifted its position in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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.