Carl Ledbetter Sells 7,986 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 7,986 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $74.48, for a total transaction of $594,797.28. Following the sale, the director now directly owns 1,102,409 shares in the company, valued at $82,107,422.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, May 29th, Carl Ledbetter sold 7,994 shares of Cloudflare stock. The stock was sold at an average price of $72.79, for a total value of $581,883.26.
• On Wednesday, May 8th, Carl Ledbetter sold 30,145 shares of Cloudflare stock. The shares were sold at an average price of $72.86, for a total transaction of $2,196,364.70.
• On Wednesday, May 1st, Carl Ledbetter sold 8,022 shares of Cloudflare stock. The shares were sold at an average price of $87.49, for a total transaction of $701,844.78.
• On Wednesday, April 24th, Carl Ledbetter sold 10,015 shares of Cloudflare stock. The shares were sold at an average price of $89.16, for a total value of $892,937.40.
• 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 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 transaction 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 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 shares were sold at an average price of $95.08, for a total transaction of $757,597.44.

Cloudflare Price Performance

NET opened at $73.48 on Friday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The business has a 50 day moving average of $79.74 and a 200-day moving average of $85.21.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. As a group, research analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NET shares. Piper Sandler restated a “neutral” rating and issued a $81.00 price target (down from $110.00) on shares of Cloudflare in a report on Friday, May 3rd. TD Cowen dropped their target price on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. UBS Group cut their price target on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research note on Friday, May 3rd. Citigroup cut their price objective on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Mizuho cut their price target on Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $90.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cigna Investments Inc. New boosted its holdings in shares of 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 during the period. Yousif Capital Management LLC boosted its stake in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after buying an additional 130 shares during the period. Kingswood Wealth Advisors LLC grew its position 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 buying an additional 132 shares in the last quarter. Quent Capital LLC increased its stake in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares during the period. Finally, Soltis Investment Advisors LLC raised its holdings in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after acquiring an additional 168 shares in the last quarter. 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.