Cloudflare (NYSE:NET) Director Sells $3,159,750.00 in Stock

Key Points

• Cloudflare Director Carl Ledbetter sold 15,000 shares of the company for $3,159,750, which represents a 1.48% decrease in his ownership stake.
• The company's shares reached $212.80, with a market cap of $74.16 billion, and a 1-year trading range between $85.60 and $230.10.
• Cloudflare reported a quarterly revenue of $512.32 million, surpassing analyst expectations, with a guidance for FY 2025 earnings projected at 0.850-0.860 EPS.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 15,000 shares of the company's stock in a transaction on Monday, October 20th. The stock was sold at an average price of $210.65, for a total transaction of $3,159,750.00. Following the transaction, the director directly owned 998,073 shares in the company, valued at approximately $210,244,077.45. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, September 22nd, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The stock was sold at an average price of $223.91, for a total transaction of $3,358,650.00.
• On Monday, August 25th, Carl Ledbetter sold 15,000 shares of Cloudflare stock. The stock was 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 stock was sold at an average price of $199.85, for a total transaction of $2,997,750.00.

Cloudflare Price Performance

Shares of NYSE:NET traded up $2.79 on Monday, reaching $212.80. 2,007,345 shares of the company were exchanged, compared to its average volume of 3,338,633. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 1-year low of $85.60 and a 1-year high of $230.10. The firm has a market cap of $74.16 billion, a price-to-earnings ratio of -625.87 and a beta of 1.99. The company has a 50-day moving average of $212.65 and a 200-day moving average of $179.12.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business 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 business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the company 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. Equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NET. DZ Bank reissued a "sell" rating and issued a $170.00 price objective on shares of Cloudflare in a research note on Tuesday, July 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a research note on Wednesday, October 8th. Scotiabank increased their price objective on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Wells Fargo & Company increased their price objective on shares of Cloudflare from $225.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Piper Sandler raised their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $196.54.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NET. Mather Group LLC. lifted its holdings in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after acquiring an additional 202 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in Cloudflare in the second quarter valued at approximately $29,000. Quaker Wealth Management LLC raised its holdings in Cloudflare by 218.6% in the second quarter. Quaker Wealth Management LLC now owns 166 shares of the company's stock valued at $33,000 after buying an additional 306 shares during the period. Hilltop National Bank purchased a new position in Cloudflare in the second quarter valued at approximately $36,000. Finally, Ameritas Advisory Services LLC purchased a new position in Cloudflare in the second quarter valued at approximately $39,000. 82.68% of the stock is currently owned by hedge funds and other 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.

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