Cloudflare, Inc. (NYSE:NET) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 30.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,158 shares of the company’s stock after buying an additional 8,596 shares during the period. Toronto Dominion Bank’s holdings in Cloudflare were worth $3,006,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Cloudflare by 5.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 83,680 shares of the company’s stock worth $6,769,000 after buying an additional 4,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Cloudflare during the third quarter valued at about $919,000. National Bank of Canada FI boosted its holdings in shares of Cloudflare by 17.9% in the third quarter. National Bank of Canada FI now owns 8,292 shares of the company’s stock worth $671,000 after buying an additional 1,261 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Cloudflare by 4.8% in the third quarter. Wellington Management Group LLP now owns 4,034 shares of the company’s stock worth $326,000 after acquiring an additional 186 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 1.1 %

Shares of NET stock opened at $113.60 on Monday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $116.00. The company has a market cap of $38.99 billion, a PE ratio of -436.92 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $96.10 and its two-hundred day moving average is $85.10.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insider Activity

In related news, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the completion of the transaction, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. This represents a 53.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares in the company, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 524,824 shares of company stock valued at $49,037,888. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

NET has been the subject of a number of recent analyst reports. UBS Group raised their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BNP Paribas began coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Piper Sandler raised their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank upped their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.20.

Cloudflare Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.