Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 9,991 shares of Cloudflare stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $215.85, for a total value of $2,156,557.35. Following the completion of the transaction, the director owned 928,082 shares of the company's stock, valued at $200,326,499.70. The trade was a 1.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Carl Ledbetter also recently made the following trade(s):
- On Wednesday, March 18th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $227.05, for a total value of $3,405,750.00.
Cloudflare Stock Performance
Shares of NET opened at $205.27 on Friday. The stock has a 50-day simple moving average of $199.89 and a 200-day simple moving average of $200.33. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $72.25 billion, a PE ratio of -707.79 and a beta of 1.87. Cloudflare, Inc. has a 1 year low of $120.46 and a 1 year high of $260.00.
Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to analysts' expectations of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. On average, analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cloudflare
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NET. Empowered Funds LLC lifted its stake in Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock valued at $750,000 after buying an additional 1,696 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Cloudflare in the second quarter valued at approximately $424,000. Cerity Partners LLC lifted its stake in Cloudflare by 30.1% in the second quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock valued at $5,391,000 after buying an additional 6,363 shares during the last quarter. Sei Investments Co. lifted its stake in Cloudflare by 40.1% in the second quarter. Sei Investments Co. now owns 329,036 shares of the company's stock valued at $64,432,000 after buying an additional 94,112 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Cloudflare by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock valued at $3,224,000 after buying an additional 2,093 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.
Wall Street Analyst Weigh In
NET has been the subject of several recent analyst reports. DZ Bank upgraded Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research note on Friday, February 13th. UBS Group restated a "neutral" rating and set a $220.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Royal Bank Of Canada boosted their target price on Cloudflare from $230.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 11th. Barclays boosted their target price on Cloudflare from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cloudflare in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $232.62.
View Our Latest Report on Cloudflare
About Cloudflare
(
Get Free Report)
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.
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