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

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 30,145 shares of Cloudflare stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $72.86, for a total value of $2,196,364.70. Following the completion of the transaction, the director now owns 1,166,648 shares in the company, valued at approximately $85,001,973.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $87.49, for a total transaction 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 shares were 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 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 stock was sold at an average price of $100.16, for a total value of $4,429,075.20.

Cloudflare Price Performance

Cloudflare stock opened at $73.34 on Friday. The stock has a market cap of $24.76 billion, a P/E ratio of -138.38 and a beta of 1.15. 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 company’s 50 day moving average price is $91.68 and its two-hundred day moving average price is $83.78. Cloudflare, Inc. has a 52 week low of $47.79 and a 52 week high of $116.00.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NET shares. Piper Sandler reissued a “neutral” rating and issued a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, May 3rd. Sanford C. Bernstein assumed coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 target price for the company. Cantor Fitzgerald decreased their price target on Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Oppenheimer dropped 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. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.57.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of NET. Riverview Trust Co purchased a new stake in shares of Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC boosted 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 worth $27,000 after purchasing an additional 238 shares during the period. ICA Group Wealth Management LLC purchased a new position in Cloudflare during the fourth quarter valued at approximately $38,000. GAMMA Investing LLC purchased a new position in shares of Cloudflare during the 4th quarter valued at $39,000. Finally, Pingora Partners LLC purchased a new position in Cloudflare during the fourth quarter worth about $42,000. Hedge funds and other institutional investors 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.