American Century Companies Inc. Boosts Stake in Cloudflare, Inc. (NYSE:NET)

American Century Companies Inc. increased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 82.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,257,601 shares of the company's stock after buying an additional 1,017,399 shares during the quarter. American Century Companies Inc. owned 0.66% of Cloudflare worth $243,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Empowered Funds LLC lifted its position in shares of Cloudflare by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company's stock worth $354,000 after purchasing an additional 313 shares during the period. Quest Partners LLC purchased a new stake in Cloudflare during the third quarter valued at approximately $54,000. Pathstone Holdings LLC increased its holdings in Cloudflare by 5.2% in the 3rd quarter. Pathstone Holdings LLC now owns 24,101 shares of the company's stock worth $1,950,000 after acquiring an additional 1,200 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cloudflare in the 3rd quarter worth $591,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 2.7% during 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 purchasing an additional 29,960 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Down 2.1 %

NYSE:NET traded down $2.53 during midday trading on Thursday, reaching $118.62. The company had a trading volume of 2,272,713 shares, compared to its average volume of 3,037,333. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock's fifty day simple moving average is $137.52 and its 200-day simple moving average is $111.05. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of -539.17 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on NET. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $60.00 to $160.00 in a research report on Tuesday. Mizuho cut their price objective on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. JMP Securities raised their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Jefferies Financial Group increased their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research note on Thursday, December 19th. Finally, Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $135.64.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company's stock, valued at approximately $1,226,652.76. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 618,046 shares of company stock worth $80,142,792. Corporate insiders own 12.83% of the company's stock.

Cloudflare Company 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.