Carl Ledbetter Sells 15,000 Shares of Cloudflare (NYSE:NET) Stock

Key Points

• Cloudflare's Director, Carl Ledbetter, sold 15,000 shares of the company's stock for a total of $3,358,650, which has resulted in a 1.46% decrease in his ownership.
• The company reported $512.32 million in revenue for the last quarter, up 27.8% year-over-year, and exceeded analysts' expectations for earnings per share.
• Analysts have varying recommendations for Cloudflare, with price targets reaching as high as $240, while the consensus rating is a Moderate Buy.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 15,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $223.91, for a total transaction of $3,358,650.00. Following the sale, the director owned 1,013,073 shares in the company, valued at approximately $226,837,175.43. This trade represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, August 25th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $195.73, for a total transaction of $2,935,950.00.
• On Monday, July 28th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $199.85, for a total transaction of $2,997,750.00.
• On Monday, June 30th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The shares were sold at an average price of $193.94, for a total transaction of $2,909,100.00.

Cloudflare Stock Down 2.1%

Shares of NET stock traded down $4.73 during mid-day trading on Tuesday, reaching $223.55. 1,206,579 shares of the company's stock traded hands, compared to its average volume of 3,454,159. Cloudflare, Inc. has a 12 month low of $77.80 and a 12 month high of $230.10. The company has a market cap of $77.90 billion, a P/E ratio of -656.22 and a beta of 1.95. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The company's 50-day moving average price is $205.56 and its 200-day moving average price is $165.78.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The firm had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JMP Securities upped their price target on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Monday, July 28th. Oppenheimer reiterated an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Stifel Nicolaus boosted their target price on Cloudflare from $175.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their target price on Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their target price on Cloudflare from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Cloudflare by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 31,495,565 shares of the company's stock worth $6,167,776,000 after purchasing an additional 658,656 shares during the period. Geode Capital Management LLC boosted 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 worth $1,081,533,000 after purchasing an additional 270,227 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock worth $352,610,000 after purchasing an additional 786,063 shares during the period. American Century Companies Inc. boosted its stake in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after purchasing an additional 779,819 shares during the period. Finally, Norges Bank bought a new position in Cloudflare in the 2nd quarter worth approximately $541,462,000. 82.68% of the stock is currently owned by institutional investors.

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.