Key Points
- Cloudflare CEO Matthew Prince sold 52,384 shares on Feb. 26 at an average price of $173.78 for proceeds of $9,103,291.52, leaving him with 22,911 shares — a roughly 69.6% reduction in his holding (SEC filing).
- That sale is part of a string of six identical block trades (each 52,384 shares) since early December, totaling about 314,304 shares and roughly $59 million in proceeds.
- Cloudflare shares opened near $174.59, the company reported revenue up 33.6% and a slight EPS beat last quarter, and analysts hold a consensus rating of "Moderate Buy" with a $230.70 average price target.
Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $164.15, for a total value of $8,598,833.60. Following the completion of the transaction, the chief executive officer owned 22,911 shares in the company, valued at $3,760,840.65. This represents a 69.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Matthew Prince also recently made the following trade(s):
- On Thursday, February 26th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $173.78, for a total transaction of $9,103,291.52.
- On Thursday, January 8th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $189.47, for a total transaction of $9,925,196.48.
- On Tuesday, January 6th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $194.77, for a total value of $10,202,831.68.
- On Friday, December 5th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $201.23, for a total transaction of $10,541,232.32.
- On Wednesday, December 3rd, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $202.19, for a total transaction of $10,591,520.96.
Cloudflare Stock Performance
Shares of Cloudflare stock opened at $174.59 on Friday. The firm has a market cap of $61.16 billion, a P/E ratio of -602.01 and a beta of 1.97. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50 day simple moving average of $186.33 and a 200 day simple moving average of $203.14.
Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period in the prior year, the company posted $0.19 EPS. The company's revenue was up 33.6% compared to the same quarter last year. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
NET has been the subject of a number of recent research reports. UBS Group reissued a "neutral" rating and issued a $220.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. Guggenheim upped their price objective on Cloudflare from $117.00 to $140.00 and gave the stock a "sell" rating in a research report on Wednesday, February 11th. Susquehanna set a $190.00 price objective on Cloudflare in a research note on Thursday, February 12th. Stifel Nicolaus lifted their price target on Cloudflare from $230.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, October 31st. Finally, Truist Financial set a $225.00 target price on shares of Cloudflare in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.70.
Get Our Latest Stock Report on Cloudflare
Institutional Investors Weigh In On Cloudflare
Large investors have recently made changes to their positions in the business. HM Payson & Co. purchased a new position in Cloudflare in the fourth quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Cloudflare in the 3rd quarter worth about $26,000. Westside Investment Management Inc. raised its stake in Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock valued at $28,000 after acquiring an additional 65 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in Cloudflare during the second quarter valued at about $29,000. 82.68% of the stock is owned by hedge funds and other institutional investors.
Cloudflare Company Profile
(
Get Free Report)
Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.
In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.
Further Reading
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