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

Cloudflare, Inc. (NYSE:NET) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $48,501,613.16. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 17th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $116.47, for a total transaction of $6,101,164.48.
• On Thursday, February 27th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36.
• On Tuesday, February 25th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $143.39, for a total transaction of $7,511,341.76.
• On Wednesday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $113.73, for a total transaction of $5,957,632.32.
• On Monday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $113.98, for a total transaction of $5,970,728.32.
• On Friday, December 20th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60.

Cloudflare Trading Up 2.1 %

Shares of NET opened at $117.48 on Thursday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of -534.02 and a beta of 1.27. The stock’s 50-day moving average price is $136.54 and its 200 day moving average price is $109.42.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. Groupama Asset Managment bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $249,544,000. American Century Companies Inc. grew its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. Fred Alger Management LLC grew its stake in shares of Cloudflare by 856.3% in the 4th quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock valued at $100,604,000 after purchasing an additional 836,591 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Cloudflare by 292.5% in the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock valued at $116,178,000 after purchasing an additional 804,059 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Guggenheim lifted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. JMP Securities boosted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Morgan Stanley assumed coverage on shares of Cloudflare in a report on Tuesday. They issued an “overweight” rating on the stock. UBS Group dropped their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $130.04.

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.