American Century Companies Inc. Increases Holdings in Cloudflare, Inc. (NYSE:NET)

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

Other large investors also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc increased its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC increased its stake in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. Finally, Whittier Trust Co. increased its stake in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after purchasing an additional 329 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NET shares. Wells Fargo & Company lifted their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus lifted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Susquehanna boosted their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $131.64.

Cloudflare Trading Up 0.9 %

Cloudflare stock opened at $118.95 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s fifty day simple moving average is $136.73 and its two-hundred day simple moving average is $110.01. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a market capitalization of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $20,824,263.60. This represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were 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 directly owns 252,869 shares in the company, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock valued at $73,779,200 over the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

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.