Matthew Prince sells 52,384 shares of Cloudflare, Inc. (NYSE:NET)


Cloudflare, Inc. (NYSE:NET – Get Rating) CEO Matthew Prince sold 52,384 Cloudflare shares in a trade dated Monday, June 6. The shares were sold at an average price of $54.66, for a total value of $2,863,309.44. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink.

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

  • On Thursday, June 2, Matthew Prince sold 52,384 Cloudflare shares. The shares were sold at an average price of $57.86, for a total value of $3,030,938.24.
  • On Thursday, May 12, Matthew Prince sold 52,384 Cloudflare shares. The stock was sold at an average price of $56.88, for a total value of $2,979,601.92.
  • On Wednesday, April 6, Matthew Prince sold 52,384 Cloudflare shares. The stock was sold at an average price of $109.65, for a total value of $5,743,905.60.
  • On Monday, April 4, Matthew Prince sold 52,384 Cloudflare shares. The shares were sold at an average price of $126.67, for a total value of $6,635,481.28.

Shares of Cloudflare fell $0.63 on Monday, hitting $53.91. The company’s stock had a trading volume of 4,022,417 shares, compared to an average trading volume of 5,989,711 shares. The company has a debt ratio of 2.78, a quick ratio of 6.85 and a current ratio of 6.85. Cloudflare, Inc. has a 1-year minimum of $50.03 and a 1-year maximum of $221.64. The company has a fifty-day moving average price of $84.48 and a 200-day moving average price of $107.40. The company has a market capitalization of $17.59 billion, a price-earnings ratio of -64.95 and a beta of 1.06.

Cloudflare (NYSE:NET – Get Rating) last released its quarterly earnings data on Thursday, May 5. The company reported EPS of $0.01 for the quarter, beating the consensus estimate of ($0.09) by $0.10. Cloudflare had a negative return on equity of 17.74% and a negative net margin of 35.83%. The company posted revenue of $212.20 million in the quarter, compared to analyst estimates of $205.66 million. During the same period of the previous year, the company achieved EPS of ($0.11). Cloudflare’s quarterly revenue increased 53.7% year over year. As a group, analysts expect Cloudflare, Inc. to post year-to-date EPS of -0.41.

Major investors have recently been buying and selling shares of the company. International Assets Investment Management LLC increased its position in Cloudflare shares by 3.6% in the fourth quarter. International Assets Investment Management LLC now owns 2,987 shares of the company valued at $393,000 after buying 104 additional shares last quarter. Signaturefd LLC increased its position in Cloudflare shares by 1.2% in the first quarter. Signaturefd LLC now owns 10,606 shares of the company valued at $1,270,000 after purchasing an additional 125 shares last quarter. Private Capital Group LLC increased its position in Cloudflare shares by 109.2% in the first quarter. Private Capital Group LLC now owns 251 shares of the company valued at $30,000 after buying 131 additional shares in the last quarter. Cetera Investment Advisers increased its position in Cloudflare shares by 2.4% in the fourth quarter. Cetera Investment Advisers now owns 6,184 shares of the company valued at $813,000 after buying an additional 145 shares last quarter. Finally, Clearstead Advisors LLC increased its position in Cloudflare shares by 93.8% in the first quarter. Clearstead Advisors LLC now owns 310 shares of the company valued at $37,000 after buying an additional 150 shares in the last quarter. Institutional investors hold 69.96% of the company’s shares.

A number of research analysts have weighed in on NET shares. Citigroup lowered its target price on Cloudflare from $120.00 to $95.00 in a Friday, May 6 report. Needham & Company LLC reduced its target price on Cloudflare from $245.00 to $100.00 and set an “na” rating for the company in a Monday, May 16 research report. Robert W. Baird cut his target price on Cloudflare from $210.00 to $130.00 and set a “neutral” rating for the company in a Friday, February 11 research report. Wells Fargo & Company raised its price target on Cloudflare from $95.00 to $120.00 and gave the company an “equal weight” rating in a Friday, Feb. 11 research note. Finally, Royal Bank of Canada lowered its price target on Cloudflare from $155.00 to $120.00 in a Monday, May 2 research note. One analyst rated the stock with a sell rating, twelve gave the company a hold rating and eleven gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $130.02.

Cloudflare Company Profile (Get a rating)

CloudFlare, Inc operates as a cloud service provider that offers a range of services to businesses around the world. The company offers an integrated cloud-based security solution to secure a range of platform combinations, including public cloud, private cloud, on-premises applications, software as a service, and IoT devices.

See also

Insider buying and selling by quarter for Cloudflare (NYSE:NET)



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Ann J. Cox