Cloudflare, Inc. (NYSE:NET – Get Free Report) CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $210.02, for a total transaction of $11,001,687.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Prince also recently made the following trade(s):
- On Wednesday, April 8th, Matthew Prince sold 51,725 shares of Cloudflare stock. The shares were sold at an average price of $213.59, for a total transaction of $11,047,942.75.
- On Wednesday, April 8th, Matthew Prince sold 659 shares of Cloudflare stock. The shares were sold at an average price of $223.62, for a total transaction of $147,365.58.
- On Wednesday, March 18th, Matthew Prince sold 38,766 shares of Cloudflare stock. The shares were sold at an average price of $218.87, for a total transaction of $8,484,714.42.
- On Monday, March 16th, Matthew Prince sold 52,384 shares of Cloudflare stock. The shares were sold at an average price of $209.08, for a total transaction of $10,952,446.72.
- On Wednesday, March 18th, Matthew Prince sold 13,618 shares of Cloudflare stock. The shares were sold at an average price of $227.80, for a total transaction of $3,102,180.40.
- On Thursday, February 26th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $173.78, for a total transaction of $9,103,291.52.
- On Tuesday, February 24th, Matthew Prince sold 52,384 shares of Cloudflare stock. The stock was sold at an average price of $164.15, for a total transaction of $8,598,833.60.
- 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.
Cloudflare Trading Down 2.5%
Shares of NET traded down $5.37 during mid-day trading on Wednesday, reaching $210.92. The company’s stock had a trading volume of 4,118,601 shares, compared to its average volume of 4,528,759. The stock has a market cap of $74.24 billion, a PE ratio of -727.27 and a beta of 1.87. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 52 week low of $96.41 and a 52 week high of $260.00. The company’s fifty day moving average price is $194.55 and its two-hundred day moving average price is $202.49.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Cloudflare by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock worth $6,389,167,000 after acquiring an additional 90,397 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cloudflare by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after purchasing an additional 241,981 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Cloudflare by 1.6% during the fourth quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock worth $792,377,000 after purchasing an additional 63,198 shares during the last quarter. Invesco Ltd. lifted its position in shares of Cloudflare by 1.3% during the third quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock worth $850,792,000 after purchasing an additional 49,485 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Cloudflare during the fourth quarter worth $718,316,000. Institutional investors own 82.68% of the company’s stock.
Analysts Set New Price Targets
NET has been the subject of a number of recent research reports. Truist Financial set a $225.00 price objective on shares of Cloudflare in a report on Tuesday, January 20th. BTIG Research lifted their target price on shares of Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Scotiabank decreased their target price on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Citigroup lifted their target price on shares of Cloudflare from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $260.00 target price on shares of Cloudflare and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.38.
Get Our Latest Analysis on NET
About Cloudflare
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.
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