Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Cloudflare, Inc. (NASDAQ: NYSE:NET) CEO & Board Co-Chair Matthew Prince, recently sold a large block of Class A Common Stock. According to a Form 4 filing with the Securities and Exchange Commission, Prince sold a total of $29.9 million worth of shares between July 8th and July 10th.
The sales involved 75,466 shares of Cloudflare’s Class A Common Stock, at prices ranging from $181.7368 to $195.4592.
On the same dates, Prince also converted 157,152 shares of Class B Common Stock into Class A Common Stock.
In other recent news, Cloudflare announced the pricing of $1.75 billion in convertible senior notes due 2030, with plans to use the proceeds for general corporate purposes, including potential acquisitions. These notes, which are convertible into Cloudflare’s Class A common stock, carry a zero-interest rate and are expected to mature in 2030. Additionally, Cloudflare has entered into capped call transactions to mitigate potential dilution from the notes. TD Cowen raised its price target for Cloudflare to $200, citing strong demand for its services, despite a brief service outage caused by a third-party issue. The firm maintains a Buy rating, highlighting a potential path to $5 billion in annual recurring revenue by fiscal year 2026. JMP Securities reiterated a Market Outperform rating with a $180 price target, even after a service outage that temporarily affected Cloudflare’s services. The company received positive customer feedback for its quick resolution of the issue. These developments reflect ongoing investor interest and confidence in Cloudflare’s growth prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.