Insider Selling: Cloudflare (NYSE:NET) Director Sells $1,561,100.00 in Stock

Cloudflare, Inc. (NYSE:NET – Get Free Report) Director Carl Ledbetter sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $312.22, for a total value of $1,561,100.00. Following the transaction, the director owned 878,073 shares of the company’s stock, valued at $274,151,952.06. This trade represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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):

Get Cloudflare alerts:

• 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 opened at $334.66 on Friday. Cloudflare, Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $336.90. The firm’s 50 day moving average price is $290.95 and its 200 day moving average price is $243.97. The company has a market cap of $118.29 billion, a P/E ratio of -577.00, a PEG ratio of 258.21 and a beta of 1.66. 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 results on Thursday, August 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The company had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s 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, research analysts forecast that Cloudflare, Inc. will post 0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cloudflare in a report on Friday, July 17th. Citizens Jmp restated a “market outperform” rating and issued a $394.00 price objective on shares of Cloudflare in a report on Monday, August 31st. Sanford C. Bernstein lifted their price objective on shares of Cloudflare from $164.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday. Scotiabank boosted their target price on shares of Cloudflare from $300.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $370.00 target price on shares of Cloudflare in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.85.

Check Out Our Latest Analysis on Cloudflare

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently made changes to their positions in the company. Cornerstone Financial Management LLC increased its position in Cloudflare by 65.3% during the second quarter. Cornerstone Financial Management LLC now owns 119 shares of the company’s stock worth $29,000 after buying an additional 47 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Cloudflare during the second quarter valued at $30,000. CX Institutional increased its position in Cloudflare by 49.4% during the 2nd quarter. CX Institutional now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 44 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in Cloudflare in the 2nd quarter valued at about $33,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Cloudflare during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

(Get Free Report)

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.

Featured Stories

• Five stocks we like better than Cloudflare
• Aeluma’s Selloff Could Be Setting Up Its Next Big Move
• Crypto Bill Stalls, Smart Money Calls: Time to Buy the Dip?
• The September Scramble: Find Sanctuary in These 3 Defensive Dividend Stocks
• The Fed’s Rate Hike Could Backfire If Oil Prices Collapse

Receive News & Ratings for Cloudflare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cloudflare and related companies with MarketBeat.com's FREE daily email newsletter.