Cloudflare (NET) Director Carl Ledbetter Sells $1.5M of Stock
Key Points
- Cloudflare director Carl Ledbetter sold 5,000 shares on October 19, 2026, via a pre-arranged trading plan for about $1.52 million.
- After the trade, Carl Ledbetter indirectly holds 868,073 $NET shares, down 0.57% from before the trade.
- The stock recently traded near $297.51, sitting below its 50-day moving average ahead of November 5 earnings.
- Wall Street firms including BTIG and Oppenheimer maintain upbeat price targets on the infrastructure software provider.
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Cloudflare, Inc. director Carl Ledbetter sold 5,000 shares of the cloud services provider on October 19, 2026. According to a Form 4 filed with the Securities and Exchange Commission, the transaction was executed at a price of $304.40 per share for a total value of $1,521,994.00.
NET
Cloudflare, Inc.
Inside Carl Ledbetter's Cloudflare Trade
The sale was carried out under a pre-arranged Rule 10b5-1 trading plan. Following the completion of the transaction, Ledbetter directly holds 868,073 shares of the company, cutting his stake by about 0.57%.
Other Institutional Activity in Cloudflare, Inc.
Portman Square Capital opened a new position with 75,939 shares valued at about $26,372,096.00. Meanwhile, Baillie Gifford & Co reduced its holdings by 1,326,566 shares, ending the period with 14,598,594 shares worth about $4,344,249,406.00. Capital International Investors grew its stake by 88,231 shares, ending with 10,981,005 shares valued at about $3,267,727,320.00.
Cloudflare, Inc. Stock Down 8.3%
The stock recently traded around $297.51 as of October 20, 2026. That puts the shares down about 6.8% compared to their 50-day moving average of $319.22, but up about 23.4% relative to their 200-day moving average of $241.18. The company has a market capitalization of roughly $112.64 billion.
Recent Earnings
Cloudflare reported trailing twelve-month revenue of $2.51 billion alongside a net margin of -8.2% and an annual return on equity of -14.4%. The company's next earnings report is scheduled for November 5, 2026.
Insider Buying and Selling at Cloudflare, Inc.
Insiders have been active around the firm in recent months. John Graham-Cumming sold 2,520 shares on June 15, 2026. President and Board Co-Chair Michelle Zatlyn sold 25,641 shares at an average price of $232.99 on June 16, 2026. Chief Financial Officer Thomas Seifert made a pair of transactions on June 17, 2026, and also sold 12,500 shares earlier on October 19, 2026.
Analysts Set New Price Targets
Wall Street firms continue to update their views on the infrastructure software provider. On September 17, 2026, Bernstein maintained its Market Perform rating with a target of $181.00. BTIG maintained a buy rating on October 6, 2026, raising its target to $413.00. Oppenheimer reaffirmed an Outperform rating on October 9, 2026, with a target of $430.00. Barclays kept an Overweight rating on October 12, 2026, lifting its target to $400.00. TD Cowen maintained a buy rating on October 13, 2026, moving its target to $375.00. Overall, the stock carries a consensus buy recommendation across 31 analyst opinions.
About Cloudflare, Inc.
Cloudflare operates as a cloud services provider that delivers internet security, performance, and infrastructure solutions to businesses worldwide. The firm's network helps accelerate web applications and protect corporate digital assets against online threats.
Bottom Line
Investors will watch the upcoming November 5 earnings report for fresh details on revenue growth and financial progress. Insider transactions continue to see regular activity under planned schedules.
Related Filing Alerts
Source: Carl Ledbetter's Form 4 filing on $NET (Oct 19, 2026). Written by software, not financial advice. How we make alerts