Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 10,050 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 10,050 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $181.57, for a total transaction of $1,824,778.50. Following the sale, the director now directly owns 1,073,073 shares in the company, valued at approximately $194,837,864.61. This represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, June 12th, Carl Ledbetter sold 492 shares of Cloudflare stock. The stock was sold at an average price of $181.46, for a total value of $89,278.32.
• On Wednesday, June 11th, Carl Ledbetter sold 749 shares of Cloudflare stock. The shares were sold at an average price of $181.46, for a total value of $135,913.54.

Cloudflare Price Performance

NET stock opened at $181.35 on Thursday. The company has a market cap of $62.86 billion, a PE ratio of -788.47 and a beta of 1.84. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $143.97 and a two-hundred day moving average price of $131.53. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $182.98.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm had revenue of $479.09 million for the quarter, compared to analysts’ expectations of $469.49 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. Piper Sandler reissued a “neutral” rating and issued a $151.00 price objective (up from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and increased their price target for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Royal Bank Of Canada reduced their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price target for the company in a report on Monday, May 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $145.92.

Institutional Investors Weigh In On Cloudflare

Large investors have recently made changes to their positions in the business. Empowered Funds LLC increased its holdings in Cloudflare by 13.3% in the 4th quarter. Empowered Funds LLC now owns 4,960 shares of the company’s stock valued at $534,000 after purchasing an additional 582 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Cloudflare during the fourth quarter valued at about $237,000. Allworth Financial LP grew its stake in Cloudflare by 8.4% during the 4th quarter. Allworth Financial LP now owns 2,854 shares of the company’s stock valued at $307,000 after purchasing an additional 220 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Cloudflare by 14.4% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,721 shares of the company’s stock worth $401,000 after purchasing an additional 468 shares during the last quarter. Finally, NTV Asset Management LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at approximately $215,000. Institutional investors and hedge funds 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.