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

Key Points

• Cloudflare director Carl Ledbetter sold 5,000 shares at an average price of $312.22, generating $1.56 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his position by 0.57%.
• Cloudflare shares traded at $327.19, near their 52-week high of $334.60, with a market capitalization of approximately $115.65 billion. The company reported quarterly revenue growth of 35.9% and beat analysts’ earnings expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $320.19, while institutional investors own 82.68% of the company.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 5,000 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $312.22, for a total transaction of $1,561,100.00. Following the completion of the sale, the director directly owned 878,073 shares of the company's stock, valued at $274,151,952.06. This trade represents a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 6th, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The shares were 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 value of $1,340,550.00.

Cloudflare Stock Performance

Shares of NYSE NET traded down $3.17 during midday trading on Tuesday, hitting $327.19. 3,033,341 shares of the company's stock traded hands, compared to its average volume of 4,205,718. The firm has a fifty day moving average of $287.59 and a 200 day moving average of $240.67. Cloudflare, Inc. has a 1 year low of $158.83 and a 1 year high of $334.60. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market capitalization of $115.65 billion, a price-to-earnings ratio of -564.12, a price-to-earnings-growth ratio of 250.57 and a beta of 1.66.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The company had revenue of $696.06 million for the quarter, compared to the consensus estimate of $664.66 million. During the same period in the previous year, the business earned $0.21 earnings per share. Cloudflare's quarterly revenue was up 35.9% compared to the same quarter last year. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on NET shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $389.00 price target on shares of Cloudflare in a research note on Friday, August 7th. BTIG Research raised their price objective on Cloudflare from $314.00 to $382.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Wall Street Zen cut Cloudflare from a "buy" rating to a "hold" rating in a report on Sunday, September 6th. Piper Sandler boosted their target price on Cloudflare from $250.00 to $333.00 and gave the stock 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 issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $320.19.

Institutional Trading of Cloudflare

Institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC lifted its position in shares of Cloudflare by 46.4% during the second quarter. Anchor Investment Management LLC now owns 3,432 shares of the company's stock worth $842,000 after purchasing an additional 1,087 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Cloudflare by 13.2% during the second quarter. Sequoia Financial Advisors LLC now owns 9,790 shares of the company's stock valued at $2,401,000 after purchasing an additional 1,139 shares during the period. Van Hulzen Asset Management LLC grew its holdings in shares of Cloudflare by 2.4% in the second quarter. Van Hulzen Asset Management LLC now owns 4,675 shares of the company's stock worth $1,147,000 after purchasing an additional 110 shares during the last quarter. Whetstone Capital Advisors LLC grew its holdings in shares of Cloudflare by 51.7% in the second quarter. Whetstone Capital Advisors LLC now owns 292,861 shares of the company's stock worth $71,833,000 after purchasing an additional 99,830 shares during the last quarter. Finally, National Pension Service increased its stake in Cloudflare by 1.6% in the 2nd quarter. National Pension Service now owns 959,987 shares of the company's stock worth $235,466,000 after buying an additional 15,546 shares during the period. 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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