Cloudflare (NYSE:NET) Director Sells $3,167,400.00 in Stock

Cloudflare, Inc. (NYSE:NET) Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $211.16, for a total value of $3,167,400.00. Following the completion of the sale, the director owned 953,073 shares of the company’s stock, valued at approximately $201,250,894.68. The trade was a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, January 5th, Carl Ledbetter sold 6,134 shares of Cloudflare stock. The stock was sold at an average price of $198.26, for a total value of $1,216,126.84.
• On Tuesday, December 30th, Carl Ledbetter sold 192 shares of Cloudflare stock. The shares were sold at an average price of $201.25, for a total transaction of $38,640.00.
• On Monday, December 29th, Carl Ledbetter sold 8,674 shares of Cloudflare stock. The shares were sold at an average price of $201.46, for a total transaction of $1,747,464.04.
• On Monday, November 17th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The stock was sold at an average price of $207.96, for a total transaction of $3,119,400.00.

Cloudflare Price Performance

Shares of NYSE NET opened at $177.23 on Friday. The firm’s 50-day moving average price is $194.53 and its 200-day moving average price is $205.81. Cloudflare, Inc. has a 1-year low of $89.42 and a 1-year high of $260.00. The firm has a market capitalization of $62.08 billion, a P/E ratio of -590.77, a P/E/G ratio of 156.36 and a beta of 1.96. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, October 30th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. Cloudflare had a negative return on equity of 6.54% and a negative net margin of 5.12%.The company had revenue of $562.03 million during the quarter, compared to the consensus estimate of $544.65 million. During the same period last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 30.7% compared to the same quarter last year. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $225.00 target price on shares of Cloudflare in a report on Tuesday, December 16th. Wolfe Research reaffirmed a “peer perform” rating on shares of Cloudflare in a research note on Monday. Citigroup decreased their target price on shares of Cloudflare from $318.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Guggenheim reaffirmed a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Finally, Stifel Nicolaus lifted their price target on Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.48.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Cloudflare by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock valued at $6,389,167,000 after acquiring an additional 90,397 shares during the last quarter. Geode Capital Management LLC grew its stake in Cloudflare by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock valued at $1,081,533,000 after purchasing an additional 270,227 shares during the period. Invesco Ltd. grew its stake in Cloudflare by 1.3% in the 3rd quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after purchasing an additional 49,485 shares during the period. Norges Bank purchased a new stake in shares of Cloudflare during the 2nd quarter valued at $541,462,000. Finally, Groupama Asset Managment raised its stake in shares of Cloudflare by 82.6% during the 3rd quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after purchasing an additional 950,000 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.