Carl Ledbetter Sells 44,154 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 44,154 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $94.37, for a total value of $4,166,812.98. Following the completion of the sale, the director now owns 1,222,859 shares of the company’s stock, valued at $115,401,203.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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.
• 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 value 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 shares were 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 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 stock was sold at an average price of $76.03, for a total value of $2,297,170.42.

Cloudflare Stock Performance

Shares of NET stock traded up $1.26 during mid-day trading on Thursday, hitting $96.09. 1,662,692 shares of the stock were exchanged, compared to its average volume of 3,890,012. The stock’s fifty day simple moving average is $96.24 and its two-hundred day simple moving average is $80.59. 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 12-month low of $39.90 and a 12-month high of $116.00. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of -174.71 and a beta of 1.12.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company 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, analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, February 13th. Mizuho lifted their price objective on shares of Cloudflare from $73.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, February 9th. KeyCorp increased their target price on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $100.00 price target (up previously from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. purchased a new stake in Cloudflare during the 1st quarter valued at approximately $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Cloudflare during the third quarter worth approximately $38,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth $38,000. GAMMA Investing LLC acquired a new stake in shares of Cloudflare during the fourth quarter worth $39,000. Finally, Providence Capital Advisors LLC increased its stake in Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after buying an additional 2,426 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.