Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 9,993 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 9,993 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $64.77, for a total value of $647,246.61. Following the completion of the sale, the director now owns 1,808,638 shares of the company’s stock, valued at approximately $117,145,483.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, September 6th, Carl Ledbetter sold 7,988 shares of Cloudflare stock. The stock was sold at an average price of $64.79, for a total transaction of $517,542.52.
• On Wednesday, August 30th, Carl Ledbetter sold 30,191 shares of Cloudflare stock. The stock was sold at an average price of $63.28, for a total transaction of $1,910,486.48.
• On Wednesday, August 23rd, Carl Ledbetter sold 8,030 shares of Cloudflare stock. The stock was sold at an average price of $59.35, for a total transaction of $476,580.50.
• On Wednesday, August 16th, Carl Ledbetter sold 9,967 shares of Cloudflare stock. The stock was sold at an average price of $62.18, for a total transaction of $619,748.06.
• On Wednesday, August 2nd, Carl Ledbetter sold 30,115 shares of Cloudflare stock. The stock was sold at an average price of $65.72, for a total value of $1,979,157.80.
• On Wednesday, July 26th, Carl Ledbetter sold 8,030 shares of Cloudflare stock. The stock was sold at an average price of $64.80, for a total value of $520,344.00.
• On Wednesday, July 19th, Carl Ledbetter sold 9,999 shares of Cloudflare stock. The shares were sold at an average price of $74.36, for a total transaction of $743,525.64.
• On Wednesday, July 12th, Carl Ledbetter sold 7,986 shares of Cloudflare stock. The shares were sold at an average price of $68.97, for a total transaction of $550,794.42.
• On Wednesday, July 5th, Carl Ledbetter sold 30,145 shares of Cloudflare stock. The shares were sold at an average price of $64.76, for a total transaction of $1,952,190.20.

Cloudflare Trading Up 1.7 %

NYSE NET opened at $65.58 on Friday. The stock has a 50-day simple moving average of $64.87 and a two-hundred day simple moving average of $61.30. Cloudflare, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $76.07. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 2.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The company had revenue of $308.49 million for the quarter, compared to analysts’ expectations of $305.63 million. Cloudflare had a negative net margin of 19.61% and a negative return on equity of 21.42%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $43.00 price target on shares of Cloudflare in a report on Monday, August 7th. JMP Securities lifted their price objective on shares of Cloudflare from $60.00 to $75.00 in a research note on Thursday, July 13th. UBS Group assumed coverage on shares of Cloudflare in a research note on Monday, June 5th. They issued a “sell” rating and a $55.00 price objective for the company. Needham & Company LLC lifted their target price on Cloudflare from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, TD Cowen increased their price target on Cloudflare from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.85.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently made changes to their positions in the company. TFC Financial Management Inc. purchased a new position in shares of Cloudflare during the 4th quarter valued at approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of Cloudflare during the 1st quarter valued at approximately $29,000. Belpointe Asset Management LLC acquired a new stake in Cloudflare in the 4th quarter valued at $31,000. First Horizon Advisors Inc. increased its holdings in Cloudflare by 45.4% in the 4th quarter. First Horizon Advisors Inc. now owns 682 shares of the company’s stock worth $31,000 after acquiring an additional 213 shares in the last quarter. Finally, Alta Advisers Ltd acquired a new position in Cloudflare during the second quarter worth $39,000. 73.14% of the stock is owned by hedge funds and other institutional investors.

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, secure origin connection, and rate limiting products.