US Bancorp DE Has $3.86 Million Holdings in Cloudflare, Inc. (NYSE:NET)

US Bancorp DE increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,828 shares of the company’s stock after buying an additional 908 shares during the quarter. US Bancorp DE’s holdings in Cloudflare were worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares during the period. Atomi Financial Group Inc. raised its stake in shares of Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares during the period. D.A. Davidson & CO. raised its stake in shares of Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the period. Finally, Amalgamated Bank raised its stake in shares of Cloudflare by 0.5% in the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock valued at $2,154,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Trading Up 1.9 %

Shares of NYSE:NET opened at $143.67 on Thursday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market cap of $49.58 billion, a PE ratio of -653.05 and a beta of 1.27. The business has a 50 day moving average of $134.50 and a 200-day moving average of $106.61. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 623,046 shares of company stock worth $79,594,844. Corporate insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. Truist Financial raised their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. UBS Group raised their price objective on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $136.28.

About Cloudflare

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.