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 Cloudflare stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $96.66, for a total value of $5,063,437.44. Following the sale, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,177,608.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 Friday, February 23rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $98.75, for a total value 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 value of $4,955,002.56.
• On Monday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $78.78, for a total value of $4,126,811.52.
• On Friday, January 5th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.80, for a total value of $4,023,091.20.

Cloudflare Trading Down 1.8 %

Shares of NYSE NET traded down $1.68 during mid-day trading on Thursday, hitting $94.22. 3,089,251 shares of the company traded hands, compared to its average volume of 4,427,053. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of -171.31 and a beta of 1.14. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business has a 50 day moving average of $90.16 and a two-hundred day moving average of $76.02.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on NET shares. Wells Fargo & Company lifted their price target on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Royal Bank of Canada lifted their price target on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Oppenheimer upgraded Cloudflare from a “market perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price (up from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Finally, Susquehanna lifted their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $87.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Cloudflare during the 1st quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Cloudflare during the 3rd quarter valued at about $38,000. ICA Group Wealth Management LLC acquired a new position in shares of Cloudflare during the 4th quarter valued at about $38,000. GAMMA Investing LLC acquired a new position in shares of Cloudflare during the 4th quarter valued at about $39,000. Finally, Providence Capital Advisors LLC increased its holdings in shares of Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares during the last quarter. 73.14% of the stock is owned by institutional investors and hedge funds.

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.