Cloudflare, Inc. (NYSE:NET - Get Free Report) CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Matthew Prince also recently made the following trade(s):
Shares of NYSE NET traded down $2.15 during trading on Friday, reaching $89.79. 3,358,609 shares of the stock were exchanged, compared to its average volume of 3,178,625. The business's 50-day moving average price is $86.12 and its 200 day moving average price is $80.88. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $30.68 billion, a price-to-earnings ratio of -345.33 and a beta of 1.10.
Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts' consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to analysts' expectations of $423.65 million. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.
A number of research firms recently commented on NET. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an "underperform" rating and a $65.00 price objective on the stock. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $92.88.
Get Our Latest Stock Report on NET
Several institutional investors have recently added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company's stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Empowered Funds LLC grew its position in shares of Cloudflare by 24.3% during the first quarter. Empowered Funds LLC now owns 3,528 shares of the company's stock worth $342,000 after acquiring an additional 689 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Cloudflare by 8.9% during the first quarter. Russell Investments Group Ltd. now owns 82,392 shares of the company's stock worth $7,968,000 after acquiring an additional 6,714 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Cloudflare during the first quarter worth about $676,000. Finally, Bleakley Financial Group LLC grew its position in shares of Cloudflare by 5.6% during the first quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company's stock worth $322,000 after acquiring an additional 178 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Cloudflare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cloudflare wasn't on the list.
While Cloudflare currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.