Carl Ledbetter Sells 10,015 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 10,015 shares of Cloudflare stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total transaction of $892,937.40. Following the transaction, the director now owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, April 17th, Carl Ledbetter sold 8,029 shares of Cloudflare stock. The shares were sold at an average price of $90.39, for a total value 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 stock was 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 value of $1,000,898.88.
• On Wednesday, March 20th, Carl Ledbetter sold 7,968 shares of Cloudflare stock. The stock was 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 shares were sold at an average price of $100.16, for a total transaction of $4,429,075.20.
• On Wednesday, February 7th, Carl Ledbetter sold 7,962 shares of Cloudflare stock. The stock was sold at an average price of $81.42, for a total value of $648,266.04.
• On Wednesday, January 31st, Carl Ledbetter sold 10,031 shares of Cloudflare stock. The shares were sold at an average price of $80.91, for a total value of $811,608.21.

Cloudflare Stock Performance

NET opened at $87.98 on Friday. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The stock has a market cap of $29.71 billion, a PE ratio of -159.96 and a beta of 1.12. The business’s 50 day moving average is $95.10 and its 200-day moving average is $82.53. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NET shares. Mizuho reduced their target price on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Truist Financial boosted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Capital One Financial began coverage on Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target for the company. JMP Securities boosted their price objective on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $87.08.

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.