Toronto Dominion Bank Has $4.28 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Toronto Dominion Bank grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,763 shares of the company's stock after purchasing an additional 2,605 shares during the period. Toronto Dominion Bank's holdings in Cloudflare were worth $4,282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare in the 4th quarter valued at $43,000. Larson Financial Group LLC lifted its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares during the period. CoreCap Advisors LLC lifted its position in Cloudflare by 218.4% during the 4th quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock valued at $60,000 after acquiring an additional 380 shares during the period. Whittier Trust Co. grew its stake in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after acquiring an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new stake in Cloudflare during the 4th quarter valued at about $65,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Price Performance

NYSE NET traded up $2.45 during trading hours on Tuesday, reaching $172.15. The company's stock had a trading volume of 1,994,693 shares, compared to its average volume of 3,130,488. The stock has a market cap of $59.67 billion, a PE ratio of -783.14 and a beta of 1.78. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company's 50-day moving average is $127.67 and its two-hundred day moving average is $125.52. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same period in the prior year, the business earned $0.16 earnings per share. Cloudflare's revenue for the quarter was up 26.5% on a year-over-year basis. Analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

NET has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. UBS Group upped their price target on shares of Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a research report on Wednesday, April 16th. Royal Bank of Canada dropped their target price on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald increased their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $141.79.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $48,501,613.16. The trade was a 11.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 504,085 shares of company stock worth $65,810,967 over the last 90 days. Company insiders own 12.83% of the company's stock.

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.