Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 8,029 Shares of Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 8,029 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $90.39, for a total transaction of $725,741.31. Following the transaction, the director now owns 1,214,830 shares in the company, valued at approximately $109,808,483.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 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 value 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 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 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 shares were sold at an average price of $80.91, for a total transaction of $811,608.21.
• On Wednesday, January 24th, Carl Ledbetter sold 7,982 shares of Cloudflare stock. The shares were sold at an average price of $85.06, for a total transaction of $678,948.92.
• On Monday, January 22nd, Carl Ledbetter sold 66,384 shares of Cloudflare stock. The stock was sold at an average price of $86.88, for a total value of $5,767,441.92.

Cloudflare Price Performance

Cloudflare stock opened at $86.71 on Friday. The firm has a 50-day moving average of $96.86 and a 200-day moving average of $81.63. 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 one year low of $39.90 and a one year high of $116.00.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho reduced their target price on Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company upped their target price on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Capital One Financial initiated coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price objective on shares of Cloudflare in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average target price of $87.08.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Cloudflare by 48.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock worth $1,066,000 after purchasing an additional 2,912 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Cloudflare in the first quarter valued at approximately $1,950,000. Synovus Financial Corp bought a new stake in shares of Cloudflare in the first quarter valued at approximately $439,000. Cibc World Market Inc. grew its position in Cloudflare by 16.8% during the first quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock worth $2,611,000 after buying an additional 3,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Cloudflare by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock worth $21,732,000 after acquiring an additional 17,681 shares during the period. 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.