Cloudflare, Inc. (NYSE:NET) Director Sells $1,000,898.88 in Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 9,993 shares of Cloudflare stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $100.16, for a total transaction of $1,000,898.88. Following the transaction, the director now directly owns 1,275,004 shares in the company, valued at $127,704,400.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 stock was sold at an average price of $98.35, for a total transaction of $788,963.70.
• On Wednesday, February 14th, Carl Ledbetter sold 44,220 shares of Cloudflare stock. The stock was 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 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 value of $811,608.21.
• On Wednesday, January 24th, Carl Ledbetter sold 7,982 shares of Cloudflare stock. The stock was 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 shares were sold at an average price of $86.88, for a total value of $5,767,441.92.
• On Wednesday, January 17th, Carl Ledbetter sold 30,214 shares of Cloudflare stock. The shares were sold at an average price of $76.03, for a total transaction of $2,297,170.42.
• On Wednesday, January 10th, Carl Ledbetter sold 7,970 shares of Cloudflare stock. The shares were sold at an average price of $82.35, for a total transaction of $656,329.50.
• On Wednesday, January 3rd, Carl Ledbetter sold 10,047 shares of Cloudflare stock. The shares were sold at an average price of $76.22, for a total transaction of $765,782.34.

Cloudflare Trading Up 0.2 %

NET stock traded up $0.23 during trading on Thursday, hitting $96.78. The company had a trading volume of 1,698,630 shares, compared to its average volume of 4,138,791. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $32.68 billion, a P/E ratio of -175.27 and a beta of 1.14. The company has a 50 day simple moving average of $93.17 and a 200-day simple moving average of $78.14. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data 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. The company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. As a group, research analysts forecast that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent research reports. JMP Securities increased their target price on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Morgan Stanley boosted their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 target price (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Wells Fargo & Company boosted their price target on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.50.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in NET. Yousif Capital Management LLC raised its holdings in shares of Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings 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 acquiring an additional 132 shares during the period. Quent Capital LLC raised its position in Cloudflare by 8.1% during the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after acquiring an additional 140 shares in the last quarter. CWM LLC boosted its holdings in Cloudflare by 3.4% during the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after buying an additional 153 shares in the last quarter. Finally, RFG Advisory LLC grew its position in shares of Cloudflare by 2.9% during the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock valued at $376,000 after acquiring an additional 166 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

About Cloudflare

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.