Cloudflare, Inc. (NYSE:NET – Get Free Report) Director Carl Ledbetter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $304.40, for a total value of $1,522,000.00. Following the completion of the transaction, the director owned 868,073 shares of the company’s stock, valued at approximately $264,241,421.20. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, September 22nd, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The stock was sold at an average price of $353.15, for a total transaction of $1,765,750.00.
- On Monday, September 14th, Carl Ledbetter sold 5,000 shares of Cloudflare stock. The stock was 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 value of $1,409,900.00.
Cloudflare Trading Up 0.5%
Shares of NYSE:NET traded up $1.48 on Monday, hitting $297.78. 3,050,445 shares of the company traded hands, compared to its average volume of 2,932,626. Cloudflare, Inc. has a 52 week low of $158.83 and a 52 week high of $370.35. The stock has a 50 day simple moving average of $319.26 and a 200-day simple moving average of $265.13. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82.
Cloudflare (NYSE:NET – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $696.06 million during the quarter, compared to analysts’ expectations of $664.66 million. Cloudflare had a negative net margin of 8.21% and a negative return on equity of 3.88%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company 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, analysts predict that Cloudflare, Inc. will post 0.03 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have commented on NET shares. BTIG Research lifted their target price on shares of Cloudflare from $382.00 to $413.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird set a $330.00 target price on Cloudflare in a research report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $370.00 price target on shares of Cloudflare in a report on Friday, August 7th. Finally, Citigroup reaffirmed 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 assigned a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and an average price target of $330.59.
Read Our Latest Analysis on NET
Hedge Funds Weigh In On Cloudflare
Hedge funds have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA grew its stake in Cloudflare by 17.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after purchasing an additional 206,506 shares in the last quarter. Insight Holdings Group LLC bought a new position in Cloudflare in the first quarter worth about $6,768,000. Plato Investment Management Ltd purchased a new stake in Cloudflare during the second quarter valued at approximately $1,499,000. Andra AP fonden boosted its position in shares of Cloudflare by 44.5% in the 2nd quarter. Andra AP fonden now owns 48,356 shares of the company’s stock worth $11,861,000 after purchasing an additional 14,900 shares in the last quarter. Finally, Independent Financial Group LLC acquired a new stake in Cloudflare in the first quarter worth about $3,484,000. 82.68% of the stock is currently owned by institutional investors.
About Cloudflare
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.
See Also
- Five stocks we like better than Cloudflare
- Tesla’s Roadster Reveal Hints at 2 Much Bigger Moves
- The AI Sell-Off Continues—These 3 Stocks Keep Raising Guidance Anyway
- Mr. Wonderful’s Test for AI Data Center Stocks: Power, Permits, and Tenants
- Alcoa Beat Earnings, But Can It Escape the Aluminum Bears?
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.
