Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 10,015 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 10,015 shares of Cloudflare stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total value of $892,937.40. Following the transaction, the director now owns 1,204,815 shares in the company, valued at approximately $107,421,305.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 shares were 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 value of $1,000,898.88.
• On Wednesday, March 20th, Carl Ledbetter sold 7,968 shares of Cloudflare stock. The shares were sold at an average price of $95.08, for a total value 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 value 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 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 Price Performance

Shares of NET opened at $86.76 on Friday. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock’s 50-day moving average price is $95.39 and its 200 day moving average price is $82.50.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Large investors have recently modified their holdings of the stock. Deutsche Bank AG grew its stake in shares of Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after purchasing an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $569,000. International Assets Investment Management LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $11,639,000. Blueshift Asset Management LLC grew its stake in shares of Cloudflare by 100.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier grew its stake in shares of Cloudflare by 4.5% in the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after purchasing an additional 17,600 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a research report on Tuesday, February 13th. Royal Bank of Canada boosted their price target on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Capital One Financial assumed coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target for the company. Susquehanna boosted their price target on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Mizuho reduced their price target on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. Four equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.