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

US Bancorp DE increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,828 shares of the company’s stock after purchasing an additional 908 shares during the period. US Bancorp DE’s holdings in Cloudflare were worth $3,858,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Cloudflare by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after acquiring an additional 23,641 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares in the last quarter. Swiss National Bank raised its holdings in shares of Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Cloudflare by 0.4% in the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent research reports. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Mizuho increased their target price on Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.28.

Insider Activity

In related news, insider Michelle Zatlyn sold 35,099 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 623,046 shares of company stock valued at $79,594,844 in the last 90 days. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Up 1.9 %

Shares of NET opened at $143.67 on Thursday. The firm has a market capitalization of $49.58 billion, a price-to-earnings ratio of -653.05 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business’s fifty day moving average price is $134.50 and its two-hundred day moving average price is $106.61. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

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

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.