Director of Cloudflare, Inc. (NYSE:NET) is selling $701,844.78 worth of stock

Cloudflare, Inc. (NYSE:NET – Get Free Report) Director Carl Ledbetter sold 8,022 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares sold at an average price of $87.49, for a total transaction of $701,844.78. Following the completion of the sale, the director now directly owns 1,196,793 shares of the company’s stock, valued at $104,707,419.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Carl Ledbetter also recently completed the following transaction(s):

• On Wednesday, April 24, Carl Ledbetter sold 10,015 shares of Cloudflare. The shares sold at an average price of $89.16, for a total value of $892,937.40.
• On Wednesday, April 17, Carl Ledbetter sold 8,029 shares of Cloudflare. The stock sold at an average price of $90.39, for a total transaction of $725,741.31.
• On Wednesday, April 10, Carl Ledbetter sold 44,154 shares of Cloudflare. The shares sold at an average price of $94.37, for a total transaction of $4,166,812.98.
• On Wednesday, April 3, Carl Ledbetter sold 7,991 shares of Cloudflare. The shares sold at an average price of $94.05, for a total value of $751,553.55.
• On Wednesday, March 27, Carl Ledbetter sold 9,993 shares of Cloudflare. The shares sold at an average price of $100.16, for a total value of $1,000,898.88.
• On Wednesday, March 20, Carl Ledbetter sold 7,968 shares of Cloudflare. The shares sold at an average price of $95.08, for a total value of $757,597.44.
• On Wednesday, March 6, Carl Ledbetter sold 8,022 shares of Cloudflare. The shares sold at an average price of $98.35, for a total value of $788,963.70.
• On Wednesday, February 14, Carl Ledbetter sold 44,220 shares of Cloudflare. The shares sold at an average price of $100.16, for a total value of $4,429,075.20.
• On Wednesday, February 7, Carl Ledbetter sold 7,962 shares of Cloudflare. The stock sold at an average price of $81.42, for a total transaction of $648,266.04.

Cloudflare price performance

Cloudflare stock opened at $74.52 on Friday. The company has a market cap of $25.16 billion, a price-to-earnings ratio of -135.49, and a beta of 1.15. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The company has a 50-day moving average of $93.67 and a 200-day moving average of $83.47. 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 (NYSE:NET – Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, stock analysts expect Cloudflare, Inc. will post earnings per share of -0.2 this year.

Changes in analyst ratings

NET has been the subject of several reports from research analysts. Morgan Stanley lifted their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equalweight” rating in a research note on Monday, February 12th. Wells Fargo & Company lowered their price objective on shares of Cloudflare from $125.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer cut their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday. TD Cowen lowered their price objective on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Robert W. Baird lowered his price target on Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Friday. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $90.17.

Check out our latest stock report on NET

Hedge funds weigh in on Cloudflare

Several institutional investors have recently changed their shareholdings. Commonwealth Equity Services LLC increased its position in shares of Cloudflare by 9.0% in the third quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock valued at $3,588,000 after purchasing an additional 4,685 shares during the period. Fjarde AP Fonden Sweden’s fourth-largest National Pension Fund increased its position in Cloudflare shares by 4.3% in the third quarter. Fjarde AP Fonden The Fourth Swedish National Pension Fund now owns 66,128 shares of the company’s stock worth $4,169,000 after purchasing an additional 2,700 shares during the period. Xponance Inc. expanded its position in shares of Cloudflare by 0.6% in the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock valued at $2,565,000 after purchasing an additional 224 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in shares of Cloudflare by 27.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock valued at $990,000 after purchasing an additional 3,337 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Cloudflare in the third quarter worth approximately $372,000. 82.68% of the shares are currently held by institutional investors and hedge funds.

About Cloudflare

(Get a free report)

Cloudflare, Inc operates as a cloud service provider that provides a range of services to companies around the world. The company offers an integrated cloud-based security solution to secure a range of combinations of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications and IoT devices; and website and application security products, including web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center and rate limiting products.

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