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

Key Points

• Cloudflare director Carl Ledbetter sold 5,000 shares at an average price of $304.40, generating $1.52 million. The Rule 10b5-1 transaction reduced his holdings by 0.57%, leaving him with 868,073 shares.
• Cloudflare shares recently traded at $297.78, below the $319.26 50-day moving average but well above the 52-week low of $158.83. The company’s latest quarterly results beat expectations, with $696.06 million in revenue and $0.29 in adjusted EPS.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $330.59; institutional investors own approximately 82.68% of the company’s stock.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Carl Ledbetter sold 5,000 shares of Cloudflare stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $304.40, for a total transaction of $1,522,000.00. Following the sale, the director directly owned 868,073 shares in the company, valued at $264,241,421.20. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Tuesday, September 22nd, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The shares were sold at an average price of $353.15, for a total value of $1,765,750.00.
• 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 value 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.

Cloudflare Price Performance

NYSE NET traded up $1.48 on Monday, reaching $297.78. The company had a trading volume of 3,050,445 shares, compared to its average volume of 2,932,626. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $370.35. 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 business has a 50 day moving average of $319.26 and a two-hundred day moving average of $265.13.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.02. The company had revenue of $696.06 million for 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%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same period 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. On average, sell-side analysts anticipate that Cloudflare, Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NET shares. Benchmark lowered shares of Cloudflare to an "underperform" rating in a research note on Tuesday, July 7th. Truist Financial upped their price target on Cloudflare from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $370.00 target price on shares of Cloudflare in a research report on Friday, August 7th. Wells Fargo & Company increased their price target on shares of Cloudflare from $300.00 to $380.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein boosted their target price on Cloudflare from $164.00 to $181.00 and gave the company a "market perform" rating in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $330.59.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. GK Wealth Management LLC bought a new position in shares of Cloudflare in the third quarter worth approximately $25,000. Cornerstone Financial Management LLC grew its stake in shares of Cloudflare by 65.3% during the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company's stock valued at $29,000 after buying an additional 47 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Cloudflare in the second quarter valued at approximately $30,000. CX Institutional raised its stake in shares of Cloudflare by 49.4% during the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after acquiring an additional 44 shares during the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in Cloudflare during the 2nd quarter valued at approximately $33,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Company Profile

Cloudflare, Inc NYSE: NET provides cloud connectivity, security and performance services for websites, applications, corporate networks and other internet-connected resources. Its global network is designed to help organizations improve the reliability, speed and security of digital services while reducing the complexity of managing internet infrastructure.

The company's offerings include content delivery and authoritative 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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