Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter Sells 30,145 Shares

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 30,145 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $72.86, for a total transaction of $2,196,364.70. Following the completion of the sale, the director now owns 1,166,648 shares in the company, valued at $85,001,973.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 value of $701,844.78.
• On Wednesday, April 24th, Carl Ledbetter sold 10,015 shares of Cloudflare stock. The stock was sold at an average price of $89.16, for a total transaction 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 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 stock was 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 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 transaction 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.

Cloudflare Trading Up 1.2 %

NET traded up $0.89 during trading on Thursday, hitting $73.34. The company’s stock had a trading volume of 2,500,061 shares, compared to its average volume of 3,938,248. Cloudflare, Inc. has a twelve month low of $47.79 and a twelve month high of $116.00. The stock has a market cap of $24.76 billion, a PE ratio of -138.98 and a beta of 1.15. The firm’s 50 day moving average price is $92.19 and its 200-day moving average price is $83.85. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. 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 target price on the stock. KeyCorp decreased their price objective on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Tuesday. The Goldman Sachs Group dropped their price objective on shares of Cloudflare from $89.00 to $77.00 and set a “sell” rating on the stock in a research note on Monday. Finally, Morgan Stanley raised their target price on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.57.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently bought and sold shares of NET. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Cloudflare by 3.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 256,984 shares of the company’s stock valued at $24,884,000 after purchasing an additional 7,842 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Cloudflare by 286.3% in the 1st quarter. Motley Fool Asset Management LLC now owns 21,024 shares of the company’s stock valued at $2,036,000 after acquiring an additional 15,582 shares during the period. Bleakley Financial Group LLC boosted its position in Cloudflare by 5.6% during the 1st quarter. Bleakley Financial Group LLC now owns 3,329 shares of the company’s stock worth $322,000 after purchasing an additional 178 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Cloudflare in the 1st quarter valued at $676,000. Finally, Russell Investments Group Ltd. grew its stake in shares of Cloudflare by 8.9% in the first quarter. Russell Investments Group Ltd. now owns 82,392 shares of the company’s stock valued at $7,968,000 after buying an additional 6,714 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.