Carl Ledbetter Sells 30,191 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 30,191 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $63.28, for a total transaction of $1,910,486.48. Following the completion of the sale, the director now directly owns 1,826,619 shares of the company’s stock, valued at $115,588,450.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, August 23rd, Carl Ledbetter sold 8,030 shares of Cloudflare stock. The shares were sold at an average price of $59.35, for a total transaction of $476,580.50.
• On Wednesday, August 16th, Carl Ledbetter sold 9,967 shares of Cloudflare stock. The shares were sold at an average price of $62.18, for a total transaction of $619,748.06.
• On Wednesday, August 2nd, Carl Ledbetter sold 30,115 shares of Cloudflare stock. The shares were sold at an average price of $65.72, for a total transaction of $1,979,157.80.
• On Wednesday, July 26th, Carl Ledbetter sold 8,030 shares of Cloudflare stock. The shares were sold at an average price of $64.80, for a total transaction of $520,344.00.
• On Wednesday, July 19th, Carl Ledbetter sold 9,999 shares of Cloudflare stock. The shares were sold at an average price of $74.36, for a total transaction of $743,525.64.
• On Wednesday, July 12th, Carl Ledbetter sold 7,986 shares of Cloudflare stock. The shares were sold at an average price of $68.97, for a total transaction of $550,794.42.
• On Wednesday, July 5th, Carl Ledbetter sold 30,145 shares of Cloudflare stock. The shares were sold at an average price of $64.76, for a total transaction of $1,952,190.20.

Cloudflare Stock Performance

NET stock opened at $63.97 on Friday. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of -95.48 and a beta of 0.93. Cloudflare, Inc. has a 12 month low of $37.37 and a 12 month high of $76.07. The firm has a 50 day moving average of $64.93 and a two-hundred day moving average of $61.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 3rd. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $308.49 million during the quarter, compared to the consensus estimate of $305.63 million. Cloudflare had a negative return on equity of 21.42% and a negative net margin of 19.61%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Cloudflare

Large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans bought a new stake in shares of Cloudflare during the 4th quarter worth $725,000. Ellevest Inc. boosted its holdings in shares of Cloudflare by 14.3% during the 1st quarter. Ellevest Inc. now owns 2,685 shares of the company’s stock worth $166,000 after buying an additional 335 shares during the period. AIA Group Ltd bought a new stake in shares of Cloudflare during the 1st quarter worth $357,000. Voya Investment Management LLC boosted its holdings in Cloudflare by 2.2% in the 4th quarter. Voya Investment Management LLC now owns 2,426,706 shares of the company’s stock valued at $109,711,000 after purchasing an additional 51,684 shares during the period. Finally, TD Asset Management Inc boosted its holdings in Cloudflare by 4.2% in the 4th quarter. TD Asset Management Inc now owns 52,073 shares of the company’s stock valued at $2,354,000 after purchasing an additional 2,088 shares during the period. 73.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NET shares. Guggenheim lowered shares of Cloudflare from a “neutral” rating to a “sell” rating and set a $50.00 price target on the stock. in a report on Monday, August 7th. KeyCorp boosted their price target on shares of Cloudflare from $61.00 to $80.00 in a report on Tuesday, July 18th. The Goldman Sachs Group boosted their price target on shares of Cloudflare from $38.00 to $43.00 and gave the company a “sell” rating in a report on Friday, August 4th. Citigroup boosted their price target on shares of Cloudflare from $48.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, JMP Securities boosted their price target on shares of Cloudflare from $60.00 to $75.00 in a report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $66.40.

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, secure origin connection, and rate limiting products.