TD Asset Management Inc Has $17.27 Million Holdings in Cloudflare, Inc. $NET

TD Asset Management Inc increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 80,473 shares of the company’s stock after acquiring an additional 3,633 shares during the quarter. TD Asset Management Inc’s holdings in Cloudflare were worth $17,269,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. grew its position in shares of Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Cloudflare during the second quarter worth approximately $29,000. ORG Wealth Partners LLC increased its stake in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after acquiring an additional 70 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in Cloudflare in the 3rd quarter valued at $31,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $171.80 on Monday. The stock has a market cap of $60.18 billion, a price-to-earnings ratio of -592.38 and a beta of 1.98. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company’s fifty day moving average is $185.86 and its 200 day moving average is $202.97. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The firm had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period in the previous year, the business earned $0.19 EPS. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 41,557 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $185.04, for a total value of $7,689,707.28. Following the sale, the chief financial officer directly owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. This represents a 32.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $176.19, for a total transaction of $528,570.00. Following the sale, the insider owned 101,101 shares of the company’s stock, valued at approximately $17,812,985.19. This trade represents a 2.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 607,646 shares of company stock valued at $115,296,962 over the last three months. Insiders own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NET. Truist Financial set a $225.00 target price on Cloudflare in a report on Tuesday, January 20th. Wall Street Zen upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. TD Cowen reissued a “buy” rating on shares of Cloudflare in a report on Tuesday, January 27th. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. Finally, Mizuho cut their price target on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.70.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.