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 company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at $840,003.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, September 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $76.55, for a total transaction of $4,009,995.20.
• On Thursday, August 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $76.70, for a total transaction of $4,017,852.80.
• On Thursday, July 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $82.67, for a total value of $4,330,585.28.
• On Tuesday, July 9th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $82.96, for a total value of $4,345,776.64.
• On Thursday, June 13th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $74.46, for a total value of $3,900,512.64.
• On Tuesday, June 11th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $72.04, for a total transaction of $3,773,743.36.

Cloudflare Stock Down 3.0 %

Shares of NET opened at $76.03 on Friday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company’s fifty day moving average is $80.41 and its two-hundred day moving average is $83.86. The firm has a market cap of $25.83 billion, a PE ratio of -143.45 and a beta of 1.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. Analysts forecast that Cloudflare, Inc. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NET. Wolfe Research started coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. The Goldman Sachs Group dropped their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a research report on Tuesday, June 4th. JMP Securities reissued a “market outperform” rating and issued a $120.00 price target on shares of Cloudflare in a report on Tuesday, May 14th. Finally, Robert W. Baird increased their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $92.29.

Institutional Trading of Cloudflare

A number of institutional investors have recently modified their holdings of the company. Riverview Trust Co purchased a new stake in Cloudflare during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare in the second quarter valued at about $29,000. Quarry LP raised its holdings in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Cloudflare during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.