Cloudflare, Inc. (NYSE:NET) Shares Bought by TD Asset Management Inc.

TD Asset Management Inc. grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,238 shares of the company’s stock after buying an additional 1,405 shares during the quarter. TD Asset Management Inc.’s holdings in Cloudflare were worth $6,110,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NET. Tradewinds Capital Management LLC boosted its stake in shares of Cloudflare by 650.0% during the 3rd quarter. Tradewinds Capital Management LLC now owns 225 shares of the company’s stock valued at $25,000 after buying an additional 195 shares during the last quarter. West Branch Capital LLC purchased a new position in shares of Cloudflare during the 2nd quarter valued at approximately $28,000. Spire Wealth Management boosted its stake in shares of Cloudflare by 35.4% during the 3rd quarter. Spire Wealth Management now owns 268 shares of the company’s stock valued at $30,000 after buying an additional 70 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Cloudflare by 434.9% during the second quarter. Canada Pension Plan Investment Board now owns 337 shares of the company’s stock worth $36,000 after purchasing an additional 274 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Cloudflare by 230.0% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 330 shares of the company’s stock worth $37,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 66.43% of the company’s stock.

Shares of Cloudflare stock opened at $100.29 on Friday. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of -143.27 and a beta of 0.52. The company has a debt-to-equity ratio of 1.34, a current ratio of 8.51 and a quick ratio of 8.51. Cloudflare, Inc. has a 52-week low of $60.96 and a 52-week high of $221.64. The stock has a 50-day simple moving average of $155.93 and a 200-day simple moving average of $140.64.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 4th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.05). Cloudflare had a negative net margin of 36.83% and a negative return on equity of 13.32%. The company had revenue of $172.35 million during the quarter, compared to the consensus estimate of $165.65 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The firm’s revenue was up 51.0% on a year-over-year basis. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.32 earnings per share for the current year.

Several equities analysts recently issued reports on NET shares. DZ Bank started coverage on Cloudflare in a research note on Thursday, December 9th. They set a “buy” rating and a $200.00 price objective on the stock. Wells Fargo & Company raised their price target on Cloudflare from $122.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, November 5th. Truist lifted their target price on Cloudflare from $130.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, October 25th. Jefferies Financial Group lowered their target price on Cloudflare from $210.00 to $120.00 and set a “hold” rating on the stock in a report on Thursday, January 6th. Finally, Piper Sandler lowered their target price on Cloudflare from $226.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Cloudflare presently has a consensus rating of “Buy” and a consensus price target of $157.73.

In other Cloudflare news, CAO Paul D. Underwood sold 2,000 shares of Cloudflare stock in a transaction that occurred on Monday, October 18th. The stock was sold at an average price of $168.05, for a total value of $336,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,385 shares of Cloudflare stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $173.72, for a total value of $9,100,322.20. The disclosure for this sale can be found here. Insiders sold a total of 706,965 shares of company stock worth $116,637,770 over the last three months. 20.69% of the stock is owned by company insiders.

About Cloudflare

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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