Cloudflare CEO Matthew Prince sells shares worth $18.2 million

Published 20/03/2025, 00:26
Cloudflare CEO Matthew Prince sells shares worth $18.2 million

In a recent series of stock transactions, Cloudflare, Inc. (NYSE:NET) CEO and Board Co-Chair Matthew Prince sold shares worth approximately $18.2 million. The transactions, which occurred over several days, involved the sale of Class A common stock at prices ranging from $112.61 to $118.47 per share. The sales come as Cloudflare, now valued at over $40 billion, has seen its stock surge roughly 42% in the past six months, according to InvestingPro data.

On March 17, Prince sold 52,384 shares, followed by additional sales on March 18 and March 19. The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted in November 2023. Despite these sales, Prince continues to hold a significant number of shares in the company. The company maintains strong financial health with a current ratio of 2.86 and impressive revenue growth of nearly 29% year-over-year.

These transactions were part of a routine financial strategy and were disclosed in a Form 4 filing with the Securities and Exchange Commission. Based on InvestingPro’s Fair Value analysis, the stock appears slightly overvalued at current levels. Discover 13 additional exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.

In other recent news, Cloudflare Inc . has introduced Cloudflare for AI, a suite of security tools designed to protect artificial intelligence applications from threats such as data leakage and unauthorized access. This launch underscores Cloudflare’s commitment to supporting AI adoption with a focus on security. Furthermore, analysts from JMP have maintained their Market Outperform rating for Cloudflare, with a price target of $180, following the company’s Investor Day event. During this event, Cloudflare’s leadership highlighted their innovative strategies in AI and developer platforms, aiming for a total addressable market of $231 billion by 2028.

TD Cowen also reaffirmed its positive outlook on Cloudflare, keeping a Buy rating and a $162 price target, citing the company’s strong product development and market strategy. RBC Capital Markets adjusted its price target for Cloudflare to $148 from $170 but maintained an Outperform rating, emphasizing the company’s strong management and ambitious growth plans. Truist Securities continues to support Cloudflare with a Buy rating and a $175 price target, noting the company’s strategic initiatives and potential for growth among large customers and developers.

Cloudflare’s goal to achieve $5 billion in annual recurring revenue by 2028 remains a focal point for analysts, with expectations of a significant compound annual growth rate. The company’s strategic focus on expanding its enterprise presence and leveraging AI for new opportunities is seen as a key driver for future growth. These recent developments reflect Cloudflare’s ongoing efforts to enhance its market position and capitalize on emerging opportunities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.