Toronto Dominion Bank Raises Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Toronto Dominion Bank increased its position in Cloudflare, Inc. (NYSE:NET) by 19.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,226 shares of the company’s stock after acquiring an additional 5,358 shares during the period. Toronto Dominion Bank’s holdings in Cloudflare were worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NET. Credit Agricole S A purchased a new position in Cloudflare in the 1st quarter worth $26,000. Laurel Wealth Advisors LLC raised its stake in shares of Cloudflare by 94.6% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 360 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Cloudflare during the 2nd quarter valued at about $43,000. BerganKDV Wealth Management LLC raised its stake in shares of Cloudflare by 54.5% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 425 shares of the company’s stock valued at $45,000 after buying an additional 150 shares during the last quarter. Finally, Ameritas Investment Company LLC purchased a new position in shares of Cloudflare during the 1st quarter valued at about $58,000. Institutional investors own 66.94% of the company’s stock.

A number of research firms have weighed in on NET. Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, September 24th. Cowen raised their target price on Cloudflare from $124.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Truist raised their target price on Cloudflare from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 6th. William Blair restated an “outperform” rating on shares of Cloudflare in a research report on Thursday, August 5th. Finally, Royal Bank of Canada raised their target price on Cloudflare from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $116.97.

Shares of Cloudflare stock opened at $159.43 on Thursday. The stock has a market cap of $49.81 billion, a P/E ratio of -354.28 and a beta of 0.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.72 and a quick ratio of 5.72. The stock’s 50 day simple moving average is $126.52 and its 200-day simple moving average is $102.61. Cloudflare, Inc. has a 1-year low of $50.54 and a 1-year high of $159.47.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, August 5th. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. The firm had revenue of $152.43 million for the quarter, compared to analyst estimates of $146.22 million. Cloudflare had a negative net margin of 25.63% and a negative return on equity of 12.61%. As a group, research analysts expect that Cloudflare, Inc. will post -0.46 EPS for the current fiscal year.

In other Cloudflare news, CEO Matthew Prince sold 52,385 shares of the business’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $103.44, for a total value of $5,418,704.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $106.77, for a total value of $2,135,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 730,745 shares of company stock worth $89,143,106. Corporate insiders own 20.69% of the company’s stock.

Cloudflare Company Profile

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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