Cloudflare, Inc. (NYSE:) Director Carl Ledbetter sold 8,029 shares of the company’s Class A common stock, according to latest SEC filings. The transactions, which occurred on April 17, 2024, totaled more than $725,000, with the shares selling at a weighted average price of $90.3935.
Investors tracking insider activity may find this sale noteworthy, as it provides a glimpse into the actions of Cloudflare’s high-level staff. The shares were sold pursuant to a Rule 10b5-1 trading plan, which Ledbetter adopted on February 28, 2023. Such plans allow company insiders to establish pre-arranged stock trading plans for selling shares in a predetermined time.
The sale was executed in multiple transactions with prices ranging from $90.11 to $90.795. This range indicates a level of consistency in the price of the security at the time of sale. After the sale, Ledbetter still holds a significant amount of Cloudflare stock, with 1,214,830 shares remaining in his possession. These shares are held through the Carl S. Ledbetter Trust, where he serves as trustee.
The transaction was signed by Lindsey Cochran, acting under power of attorney, and was filed with the SEC on April 18, 2024. Cloudflare has not made any official statements regarding this transaction and it remains an individual financial decision by the director.
For investors, insider sales can serve as one of many indicators to consider when evaluating a company’s stock. Cloudflare, which specializes in Internet security services and content delivery networks, continues to be a significant player in the technology sector.
SEC filings provide transparency into the operations of company insiders, ensuring that the public has access to critical information that can impact investment decisions. As always, investors are encouraged to look at the bigger picture and consider various factors when evaluating the value and potential of their investments.
Insights on InvestingPro
Following the recent insider selling at Cloudflare, Inc. (NYSE:NET), investors may be curious about the company’s financial health and market performance. According to data from InvestingPro, Cloudflare boasts a market capitalization of $29.28 billion and has shown significant revenue growth of nearly 33% over the trailing twelve months as of Q4 2023. This growth is a testament to the influence the company’s growth in Internet security and content. sectors of the delivery network.
With a gross profit margin of 76.32%, Cloudflare demonstrates an impressive ability to retain a substantial portion of its revenue as gross profit. This is a key parameter for investors, as it indicates the company’s efficiency in managing the cost of goods sold and its profitability potential.
An InvestingPro tip highlights that analysts have revised their earnings upwards for the coming period, suggesting a positive outlook on the company’s financial performance. Furthermore, while the stock has seen a notable price decline over the past week, with a 1-week total price return of -8.41%, the bigger picture shows a robust 6-month total price return of 40, 96%, indicating significant investor confidence towards a longer term.
For those looking to delve deeper into Cloudflare’s prospects, InvestingPro offers further insights. There are additional tips from InvestingPro, which reveal that the company operates at a moderate level of debt and has cash that exceeds its short-term obligations. This information could be crucial for investors evaluating the company’s financial stability.
Investors interested in gaining a complete understanding of Cloudflare’s financial metrics and future potential can find more detailed analysis on InvestingPro, with the option to use the coupon code PRONEWS24 for an additional 10% discount on an annual or two-year Pro and Pro+ subscription.
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