Cloudflare, Inc. (NYSE:NET) Director Sells $892,937.40 in Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 10,015 shares of Cloudflare stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,204,815 shares of the company’s stock, valued at approximately $107,421,305.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 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 shares were 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.
• 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 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 Up 1.4 %

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

Cloudflare (NYSE:NET) last issued 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. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

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

Analysts Set New Price Targets

NET has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. JMP Securities boosted their price target on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Capital One Financial started coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target on shares of Cloudflare in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.