Ledbetter Carl has demonstrated a consistent pattern of selling shares in Cloudflare, Inc. (NET), with no recorded purchases across 31 transactions totaling over $28 million in sales. The activity is concentrated entirely in NET, with no holdings or trades disclosed in other companies. Recent filings show a steady liquidation of positions, including 25 sales since July 2025, with notable transactions such as a $3.4 million sale on March 18, 2026, and multiple seven-figure disposals earlier that year, including three separate January 27, 2026, sales worth $593,702, $1.12 million, and $1.45 million.
The selling pace intensified in late 2025, with clustered transactions on single dates—five sales on November 17, 2025, totaling over $3.1 million, and three sales on each of October 20 and September 22, 2025, collectively exceeding $3.8 million and $3.3 million, respectively. Smaller dispositions, such as a $140,670 sale on July 28, 2025, and a $38,641 transaction on December 30, 2025, punctuate the larger blocks. The absence of any buys and the repeated multi-million-dollar disposals suggest a prolonged unwind of Carl’s position in Cloudflare, though the filings do not indicate whether the sales represent full divestment or ongoing reductions.
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