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Matthew Prince, CEO and Board Co-Chair of Cloudflare, Inc. (NYSE:NET), recently executed a series of stock transactions as reported in a recent SEC filing. Over the span of three days, Prince sold a total of 160,223 shares of Class A Common Stock, generating approximately $16 million. The sales were conducted at prices ranging from $96.419 to $114.4863 per share, with the current stock price at $105.5 and analyst targets ranging from $68 to $200.
The transactions, which took place between April 8 and April 10, 2025, were carried out under a Rule 10b5-1 trading plan that Prince adopted in late 2023. This plan allows executives to set up a predetermined schedule for selling stocks, providing a level of transparency and reducing concerns about insider trading.
Following these transactions, Prince's ownership of Cloudflare shares was adjusted, reflecting his ongoing involvement in the company as both CEO and Board Co-Chair. The sales were part of a broader strategy, as indicated by multiple stock conversion transactions during the same period, which saw Class B Common Stock converted to Class A Common Stock.
Cloudflare, a leading provider of web infrastructure and website security services, has seen its stock fluctuate amidst broader market dynamics, with InvestingPro analysis indicating the stock is currently trading above its Fair Value. Investors often keep a close eye on insider transactions like these, as they can offer insights into management's perspective on the company's valuation. For deeper insights into Cloudflare's financial health and valuation metrics, including 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Cloudflare Inc . has made several strategic moves and received notable analyst attention. Goldman Sachs reiterated a Buy rating for Cloudflare with a price target of $161, highlighting the company's growth potential in AI inference, with projections that its Act III products could reach $80 million in Annual Recurring Revenue in 2024. Meanwhile, TD Cowen adjusted its price target for Cloudflare to $150 from $162, maintaining a Buy rating and emphasizing the company's strong position in cybersecurity and its potential to meet first-quarter earnings projections for 2025. Cloudflare has also announced the acquisition of Outerbase, aiming to enhance its developer tools and simplify database management for AI-enabled applications, integrating Outerbase's technology into its platform.
Additionally, Cloudflare has introduced new tools to streamline AI agent development, including the industry's first remote Model Context Protocol server and a free tier for Durable Objects. These tools are designed to facilitate the rapid creation of AI agents, addressing challenges businesses face in developing such systems. The company has also expanded its board with three new members, including Stacey Cunningham, John Graham-Cumming, and Dr. Karim Lakhani, bringing in expertise in finance, technology, and AI-driven business transformation.
These developments reflect Cloudflare's ongoing efforts to strengthen its market position and expand its capabilities in AI and cybersecurity.
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