Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 30,145 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 30,145 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $72.86, for a total transaction of $2,196,364.70. Following the sale, the director now owns 1,166,648 shares of the company’s stock, valued at approximately $85,001,973.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Carl Ledbetter also recently made the following trade(s):

• On Wednesday, May 1st, Carl Ledbetter sold 8,022 shares of Cloudflare stock. The stock was sold at an average price of $87.49, for a total value of $701,844.78.
• On Wednesday, April 24th, Carl Ledbetter sold 10,015 shares of Cloudflare stock. The shares were sold at an average price of $89.16, for a total transaction of $892,937.40.
• On Wednesday, April 17th, Carl Ledbetter sold 8,029 shares of Cloudflare stock. The stock was sold at an average price of $90.39, for a total transaction of $725,741.31.
• On Wednesday, April 10th, Carl Ledbetter sold 44,154 shares of Cloudflare stock. The stock was sold at an average price of $94.37, for a total value of $4,166,812.98.
• On Wednesday, April 3rd, Carl Ledbetter sold 7,991 shares of Cloudflare stock. The shares were sold at an average price of $94.05, for a total value of $751,553.55.
• On Wednesday, March 27th, Carl Ledbetter sold 9,993 shares of Cloudflare stock. The stock was sold at an average price of $100.16, for a total transaction of $1,000,898.88.
• On Wednesday, March 20th, Carl Ledbetter sold 7,968 shares of Cloudflare stock. The shares were sold at an average price of $95.08, for a total transaction of $757,597.44.
• On Wednesday, March 6th, Carl Ledbetter sold 8,022 shares of Cloudflare stock. The stock was sold at an average price of $98.35, for a total transaction of $788,963.70.
• On Wednesday, February 14th, Carl Ledbetter sold 44,220 shares of Cloudflare stock. The stock was sold at an average price of $100.16, for a total value of $4,429,075.20.

Cloudflare Trading Up 1.2 %

NYSE:NET opened at $73.34 on Friday. Cloudflare, Inc. has a 52-week low of $47.79 and a 52-week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The stock has a fifty day simple moving average of $91.68 and a 200-day simple moving average of $83.78. The company has a market capitalization of $24.76 billion, a PE ratio of -138.38 and a beta of 1.15.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, equities research analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NET. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research report on Friday, May 3rd. Oppenheimer cut their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. KeyCorp lowered their price objective on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Capital One Financial started coverage on Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. Finally, Wells Fargo & Company lowered their price target on Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $90.57.

Institutional Investors Weigh In On Cloudflare

Large investors have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of Cloudflare in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its stake in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Cloudflare in the 4th quarter valued at about $38,000. GAMMA Investing LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth about $39,000. Finally, Pingora Partners LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.