Cloudflare, Inc. (NYSE:NET – Get Free Report) Director Carl Ledbetter sold 10,015 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total value of $892,937.40. Following the completion of the sale, the director now owns 1,204,815 shares of the company’s stock, valued at $107,421,305.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Carl Ledbetter also recently made the following trade(s):
- On Wednesday, April 17th, Carl Ledbetter sold 8,029 shares of Cloudflare stock. The shares were 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 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 shares were 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 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.
- 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.
Cloudflare Trading Down 1.0 %
NET opened at $86.76 on Friday. 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 fifty-two week low of $39.90 and a fifty-two week high of $116.00. The company’s 50-day moving average is $95.39 and its 200 day moving average is $82.50.
Analysts Set New Price Targets
Several brokerages have recently issued reports on NET. Royal Bank of Canada upped their price target on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. JMP Securities boosted their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $87.08.
Institutional Investors Weigh In On Cloudflare
Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. Riverview Trust Co purchased a new stake in Cloudflare in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Cloudflare in the 4th quarter valued at about $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare in the 4th quarter valued at about $39,000. Finally, Pingora Partners LLC purchased a new stake in Cloudflare in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors 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.
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