Cloudflare, Inc. (NYSE:NET) Director Sells $725,741.31 in Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 8,029 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were 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 of the company’s stock, valued at $109,808,483.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 stock was 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 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 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 stock was 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 stock was sold at an average price of $86.88, for a total transaction of $5,767,441.92.

Cloudflare Stock Down 1.5 %

Shares of NET traded down $1.29 on Thursday, reaching $86.71. The company’s stock had a trading volume of 2,510,021 shares, compared to its average volume of 3,816,684. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The stock has a market capitalization of $29.28 billion, a PE ratio of -157.65 and a beta of 1.12. The firm has a fifty day moving average of $96.86 and a 200-day moving average of $81.63.

Cloudflare (NYSE:NET) last released its earnings results 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. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Equities analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NET. Moneta Group Investment Advisors LLC boosted its holdings in Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the period. Norges Bank bought a new stake in Cloudflare in the 4th quarter worth $124,592,000. 1832 Asset Management L.P. boosted its stake in shares of Cloudflare by 121.2% during the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after purchasing an additional 1,597,900 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Cloudflare by 215.1% during the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Cloudflare by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after purchasing an additional 740,914 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” 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. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. JMP Securities upped their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Needham & Company LLC upped their price target on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Four 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.08.

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.