Cloudflare CEO Matthew Prince sells $249,015 in stock

SAN FRANCISCO—Matthew Prince, CEO and Board Co-Chair of Cloudflare, Inc. (NYSE:NET), recently sold shares of the company's Class A common stock valued at approximately $249,015. This transaction, which took place on April 10, was executed under a pre-established Rule 10b5-1 trading plan. Cloudflare, currently valued at $36.4 billion, has shown impressive growth with revenue increasing 29% year-over-year and maintaining strong gross profit margins of 77%. According to InvestingPro analysis, the company appears to be trading above its Fair Value.

The shares were sold at a weighted average price of $107.7524, with individual transaction prices ranging from $107.57 to $108.07. Following this sale, Prince holds 413,413 shares directly, while the sold shares were indirectly owned through The Matthew Prince Revocable Trust, where he serves as trustee. The stock has shown significant volatility, trading between $66.24 and $177.37 over the past 52 weeks. For deeper insights into insider trading patterns and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.

This sale is part of a broader set of transactions reported by Prince, covering the period from April 8 to April 10, 2025. The company maintains a healthy financial position with a current ratio of 2.86, indicating strong liquidity to meet short-term obligations.

In other recent news, Cloudflare Inc . has been the subject of multiple developments that investors may find noteworthy. The company has been actively enhancing its platform through strategic acquisitions and product launches. Cloudflare announced the acquisition of Outerbase, a developer database company, to simplify database-backed application development, particularly for AI-enabled applications. This acquisition is expected to integrate seamlessly into Cloudflare’s existing platform, enhancing the developer experience.

In another strategic move, Cloudflare introduced new tools for developing AI agents, including a remote Model Context Protocol server and a free tier for Durable Objects. These advancements aim to streamline AI agent creation and deployment, offering developers cost-effective solutions. On the financial front, TD Cowen adjusted its price target for Cloudflare to $150, maintaining a Buy rating, citing the company's robust cybersecurity demand and strategic platform expansion. Meanwhile, Goldman Sachs reiterated a Buy rating with a $161 price target, highlighting the company's potential in AI inference and its ambitious growth plans for Act III products.

Additionally, Cloudflare has strengthened its board of directors by appointing finance and tech experts, including Stacey Cunningham, John Graham-Cumming, and Dr. Karim Lakhani. These appointments are expected to bring valuable expertise to Cloudflare's governance team as the company navigates its growth trajectory. These recent developments underscore Cloudflare's ongoing efforts to expand its capabilities and market position.

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