Cloudflare (NYSE:NET) Director Carl Ledbetter Sells 15,000 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $207.96, for a total transaction of $3,119,400.00. Following the completion of the transaction, the director directly owned 983,073 shares in the company, valued at approximately $204,439,861.08. The trade was a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, October 20th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $210.65, for a total value of $3,159,750.00.
• On Monday, September 22nd, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The stock was sold at an average price of $223.91, for a total value of $3,358,650.00.
• On Monday, August 25th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $195.73, for a total value of $2,935,950.00.

Cloudflare Price Performance

Shares of NET traded down $7.77 during trading hours on Monday, reaching $202.83. 4,093,078 shares of the company’s stock traded hands, compared to its average volume of 3,315,778. The stock has a market cap of $71.05 billion, a PE ratio of -676.11 and a beta of 2.10. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The firm’s 50 day simple moving average is $222.05 and its 200-day simple moving average is $196.05. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00.

Analyst Ratings Changes

Several equities research analysts have issued reports on NET shares. Citizens Jmp lifted their target price on shares of Cloudflare from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Friday, October 31st. Mizuho raised their price objective on shares of Cloudflare from $240.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Needham & Company LLC lifted their price objective on shares of Cloudflare from $240.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JMP Securities set a $270.00 target price on shares of Cloudflare in a research report on Friday, October 31st. Finally, Susquehanna increased their target price on Cloudflare from $205.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus price target of $235.35.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in the business. Physician Wealth Advisors Inc. boosted its position in Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares during the period. Wiser Advisor Group LLC bought a new stake in shares of Cloudflare in the 3rd quarter valued at about $26,000. Westside Investment Management Inc. lifted its stake in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 65 shares during the last quarter. ORG Wealth Partners LLC boosted its holdings in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares during the period. Finally, Wexford Capital LP bought a new position in Cloudflare during the 3rd quarter worth approximately $30,000. Institutional investors 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.