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

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 10,015 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the sale, 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 document filed with the SEC, which is accessible through 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 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 transaction 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 transaction 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 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 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 transaction of $648,266.04.
• On Wednesday, January 31st, Carl Ledbetter sold 10,031 shares of Cloudflare stock. The stock was sold at an average price of $80.91, for a total transaction of $811,608.21.

Cloudflare Trading Up 1.4 %

NYSE:NET opened at $88.01 on Friday. The firm’s fifty day moving average is $94.89 and its 200-day moving average is $82.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00. The firm has a market cap of $29.72 billion, a P/E ratio of -160.02 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating 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 company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Equities analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research report on Tuesday, February 13th. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 target price on shares of Cloudflare in a research report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, JMP Securities boosted their target price on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and an average price target of $87.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cigna Investments Inc. New boosted its stake in Cloudflare by 4.2% during the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after acquiring an additional 129 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after acquiring an additional 132 shares in the last quarter. Quent Capital LLC boosted its stake in Cloudflare by 8.1% during the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares in the last quarter. Finally, CWM LLC boosted its stake in Cloudflare by 3.4% during the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after acquiring an additional 153 shares in the last quarter. 82.68% of the stock is owned by 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, script management, security center, and rate limiting products.