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

Cloudflare, Inc. (NYSE:NETGet Rating) CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $56.88, for a total value of $2,979,601.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Wednesday, April 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $109.65, for a total value of $5,743,905.60.
  • On Monday, April 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $126.67, for a total value of $6,635,481.28.
  • On Monday, March 7th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $94.68, for a total value of $4,959,717.12.
  • On Friday, March 4th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $100.29, for a total value of $5,253,591.36.
  • On Friday, February 18th, Matthew Prince sold 52,385 shares of Cloudflare stock. The shares were sold at an average price of $98.55, for a total value of $5,162,541.75.
  • On Wednesday, February 16th, Matthew Prince sold 52,385 shares of Cloudflare stock. The shares were sold at an average price of $110.41, for a total value of $5,783,827.85.

Cloudflare stock opened at $66.38 on Friday. The stock has a market cap of $21.51 billion, a P/E ratio of -79.97 and a beta of 1.01. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 2.78. The stock has a 50 day moving average of $100.64 and a 200-day moving average of $125.60. Cloudflare, Inc. has a 52 week low of $51.00 and a 52 week high of $221.64.

Cloudflare (NYSE:NETGet Rating) last released its earnings results on Thursday, February 10th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $193.60 million for the quarter, compared to analysts’ expectations of $184.79 million. Cloudflare had a negative net margin of 35.83% and a negative return on equity of 17.74%. As a group, equities analysts predict that Cloudflare, Inc. will post -0.41 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of NET. Morgan Stanley raised its position in shares of Cloudflare by 120.2% during the 2nd quarter. Morgan Stanley now owns 28,729,894 shares of the company’s stock valued at $3,040,771,000 after acquiring an additional 15,680,274 shares in the last quarter. Truist Financial Corp raised its position in shares of Cloudflare by 233.3% during the 3rd quarter. Truist Financial Corp now owns 39,045 shares of the company’s stock valued at $4,398,000 after acquiring an additional 27,331 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Cloudflare by 2.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 89,544 shares of the company’s stock valued at $10,069,000 after acquiring an additional 2,437 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Cloudflare by 2.7% during the 3rd quarter. TD Asset Management Inc. now owns 54,238 shares of the company’s stock valued at $6,110,000 after acquiring an additional 1,405 shares in the last quarter. Finally, JustInvest LLC increased its position in Cloudflare by 19.3% in the third quarter. JustInvest LLC now owns 3,902 shares of the company’s stock worth $440,000 after buying an additional 631 shares during the period. 69.96% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Cloudflare from $120.00 to $95.00 in a research note on Friday, May 6th. Credit Suisse Group boosted their target price on Cloudflare from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 11th. Truist Financial decreased their target price on Cloudflare from $180.00 to $140.00 in a report on Friday, May 6th. JMP Securities assumed coverage on Cloudflare in a report on Tuesday, February 22nd. They set a “buy” rating and a $175.00 target price for the company. Finally, Stifel Europe boosted their target price on Cloudflare from $113.00 to $128.00 and gave the stock a “hold” rating in a report on Monday, February 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $139.57.

About Cloudflare (Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

Further Reading

Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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