Cloudflare, Inc. (NYSE:NET) Director Sells $757,597.44 in Stock

Cloudflare, Inc. (NYSE:NETGet Free Report) Director Carl Ledbetter sold 7,968 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $95.08, for a total transaction of $757,597.44. Following the completion of the transaction, the director now directly owns 1,284,997 shares of the company’s stock, valued at $122,177,514.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

  • 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 shares were sold at an average price of $81.42, for a total transaction 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 transaction of $811,608.21.
  • On Wednesday, January 24th, Carl Ledbetter sold 7,982 shares of Cloudflare stock. The shares were sold at an average price of $85.06, for a total transaction of $678,948.92.
  • On Monday, January 22nd, Carl Ledbetter sold 66,384 shares of Cloudflare stock. The shares were sold at an average price of $86.88, for a total transaction of $5,767,441.92.
  • On Wednesday, January 17th, Carl Ledbetter sold 30,214 shares of Cloudflare stock. The shares were sold at an average price of $76.03, for a total transaction of $2,297,170.42.
  • On Wednesday, January 10th, Carl Ledbetter sold 7,970 shares of Cloudflare stock. The shares were sold at an average price of $82.35, for a total transaction of $656,329.50.
  • On Wednesday, January 3rd, Carl Ledbetter sold 10,047 shares of Cloudflare stock. The shares were sold at an average price of $76.22, for a total transaction of $765,782.34.
  • On Wednesday, December 27th, Carl Ledbetter sold 9,620 shares of Cloudflare stock. The stock was sold at an average price of $86.48, for a total transaction of $831,937.60.

Cloudflare Stock Performance

Cloudflare stock opened at $96.57 on Friday. The company’s 50-day moving average price is $92.03 and its 200-day moving average price is $77.34. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The company has a market cap of $32.61 billion, a PE ratio of -175.58 and a beta of 1.14.

Cloudflare (NYSE:NETGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Trading of Cloudflare

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in Cloudflare by 48.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock valued at $1,066,000 after purchasing an additional 2,912 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Cloudflare in the 1st quarter valued at about $1,950,000. Synovus Financial Corp purchased a new stake in shares of Cloudflare in the 1st quarter worth approximately $439,000. Cibc World Market Inc. lifted its position in shares of Cloudflare by 16.8% in the 1st quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock worth $2,611,000 after purchasing an additional 3,140 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cloudflare by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock worth $21,732,000 after purchasing an additional 17,681 shares during the period. 73.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NET shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target (up previously from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Wells Fargo & Company lifted their target price on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Mizuho lifted their target price on shares of Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley lifted their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Finally, Truist Financial lifted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus price target of $87.50.

Read Our Latest Analysis on NET

Cloudflare Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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