Matthew Prince, the CEO and Chair of the Board of Cloudflare, Inc., recently sold a significant amount of the company’s stock. This sale was disclosed in the latest SEC filings. The transactions occurred on September 4-6, 2024, and involved the sale of Cloudflare shares worth over $12 million.
According to the SEC Form 4 report, Prince sold a total of 52,384 shares on September 4 at prices ranging from $76.56 to $77.555 per share. The selling continued over the next two days, with Prince offloading more shares at varying prices. In total, the value of the shares sold by Prince during this period was approximately $12,211,455.
These transactions are a part of regular stock trading activities by corporate executives and provide insights into the company’s financial health and management’s confidence in its future prospects. For investors following Cloudflare, this information is crucial for understanding the company’s recent financial movements.
In other news, Cloudflare Inc. has reported strong growth in its Q2 2024 financial results, with a 30% year-over-year increase in revenue to $401 million. The company also saw significant profitability indicators, including an operating profit of $57 million and a free cash flow of $38.3 million.
Cloudflare is actively collaborating with the U.S. government and major tech companies to enhance internet censorship evasion tools in countries with heavy restrictions. These recent developments highlight Cloudflare’s commitment to promoting internet freedom and strengthening its market position.
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