Carl Ledbetter Sells 5,000 Shares of Cloudflare (NYSE:NET) Stock

Key Points

• Cloudflare director Carl Ledbetter sold 5,000 shares at an average price of $353.15, totaling $1.77 million, under a pre-arranged Rule 10b5-1 plan. He retained 873,073 shares worth approximately $308.3 million.
• Cloudflare shares recently traded near $353, close to their 12-month high of $364.23, while the company reported quarterly revenue growth of 35.9% and EPS above analyst expectations.
• Analyst sentiment remains a “Moderate Buy”, with an average price target of $321.85, although ratings range from “Sell” to “Strong Buy.” Institutional investors own 82.68% of the company.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 5,000 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $353.15, for a total value of $1,765,750.00. Following the completion of the transaction, the director directly owned 873,073 shares of the company's stock, valued at $308,325,729.95. The trade was a 0.57% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 14th, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The shares were sold at an average price of $312.22, for a total transaction of $1,561,100.00.
• On Thursday, August 6th, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The stock was sold at an average price of $281.98, for a total transaction of $1,409,900.00.
• On Tuesday, July 7th, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The shares were sold at an average price of $268.11, for a total transaction of $1,340,550.00.

Cloudflare Price Performance

Shares of NET stock traded up $0.21 on Wednesday, reaching $353.21. The company's stock had a trading volume of 2,918,638 shares, compared to its average volume of 4,178,475. The company has a market capitalization of $124.85 billion, a P/E ratio of -608.98, a PEG ratio of 279.70 and a beta of 1.66. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $364.23. The stock's 50 day simple moving average is $295.12 and its 200-day simple moving average is $247.37. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 1.22.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $696.06 million during the quarter, compared to analyst estimates of $664.66 million. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.Cloudflare's revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. As a group, equities analysts predict that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on NET shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cloudflare in a research report on Friday, July 17th. TD Cowen boosted their target price on Cloudflare from $300.00 to $355.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $250.00 target price on shares of Cloudflare in a research note on Monday, August 3rd. KeyCorp increased their price target on shares of Cloudflare from $300.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Citigroup reissued a "market outperform" rating on shares of Cloudflare in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $321.85.

Institutional Trading of Cloudflare

A number of institutional investors have recently made changes to their positions in NET. Lingotto Investment Management LLP purchased a new stake in Cloudflare during the 4th quarter valued at $34,626,000. Jupiter Asset Management Ltd. increased its position in shares of Cloudflare by 1,984.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 197,710 shares of the company's stock valued at $38,979,000 after acquiring an additional 188,226 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Cloudflare by 17.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company's stock valued at $284,900,000 after acquiring an additional 206,506 shares during the period. Insight Holdings Group LLC bought a new position in shares of Cloudflare during the first quarter valued at about $6,768,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of Cloudflare during the second quarter worth about $1,499,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Company Profile

Cloudflare, Inc is a technology company that provides cloud-based connectivity, security and performance services for websites, applications, networks and other internet-connected resources. Its platform is designed to help organizations deliver digital content more quickly, protect against cyber threats and manage internet traffic across a global network.

The company's offerings include content delivery and domain name system services, distributed denial-of-service protection, web application and application programming interface security, bot management, and network security tools.

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