SBI Securities Co. Ltd. Purchases Shares of 2,126 Confluent, Inc. (NASDAQ:CFLT)

SBI Securities Co. Ltd. purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 2,126 shares of the company’s stock, valued at approximately $59,000.

Other hedge funds have also made changes to their positions in the company. Champlain Investment Partners LLC boosted its position in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Confluent by 46.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after acquiring an additional 802,353 shares in the last quarter. Savant Capital LLC purchased a new position in Confluent in the fourth quarter valued at about $10,607,000. Oddo BHF Asset Management Sas acquired a new stake in Confluent during the 3rd quarter valued at approximately $7,646,000. Finally, Principal Financial Group Inc. grew its stake in Confluent by 1,617.4% during the 4th quarter. Principal Financial Group Inc. now owns 358,595 shares of the company’s stock valued at $10,026,000 after purchasing an additional 337,715 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $14,628,937.04. This trade represents a 33.94 % 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, CAO Kong Phan sold 12,460 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00. Following the completion of the transaction, the chief accounting officer now owns 183,886 shares of the company’s stock, valued at $5,755,631.80. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,248,478 shares of company stock worth $40,003,844 over the last ninety days. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Performance

CFLT opened at $24.40 on Tuesday. The company has a market cap of $8.15 billion, a price-to-earnings ratio of -22.59 and a beta of 0.90. The company’s fifty day moving average price is $29.85 and its two-hundred day moving average price is $26.68. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CFLT shares. Wells Fargo & Company increased their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $38.00 in a research note on Wednesday, February 26th. Evercore ISI upped their price objective on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays lifted their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus boosted their price target on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.