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

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

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cloudflare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after purchasing an additional 821,684 shares during the period. Geode Capital Management LLC boosted its position in shares of Cloudflare by 5.1% during the second quarter. Geode Capital Management LLC now owns 5,536,679 shares of the company’s stock worth $1,081,533,000 after buying an additional 270,227 shares during the period. Norges Bank bought a new position in shares of Cloudflare during the second quarter worth about $541,462,000. Charles Schwab Investment Management Inc. raised its position in Cloudflare by 3.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,368,906 shares of the company’s stock valued at $268,073,000 after buying an additional 47,698 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Cloudflare by 96.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock valued at $279,588,000 after acquiring an additional 639,245 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $201.23, for a total value of $10,541,232.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $187.39, for a total value of $6,573,641.20. Following the sale, the insider owned 34,514 shares of the company’s stock, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 607,646 shares of company stock worth $115,296,962. Insiders own 10.89% of the company’s stock.

Cloudflare Stock Down 1.6%

NET stock opened at $171.80 on Monday. The business’s 50 day simple moving average is $185.86 and its 200 day simple moving average is $202.97. Cloudflare, Inc. has a 1-year low of $89.42 and a 1-year high of $260.00. The firm has a market capitalization of $60.18 billion, a PE ratio of -592.38 and a beta of 1.98. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NET. DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, February 13th. Argus raised their target price on shares of Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 10th. TD Cowen reiterated a “buy” rating on shares of Cloudflare in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Cloudflare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Susquehanna set a $190.00 price objective on Cloudflare in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Cloudflare Profile

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.