Daiwa Securities Group Inc. Raises Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Daiwa Securities Group Inc. boosted its stake in Confluent, Inc. (NASDAQ:CFLT) by 14.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,800 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Confluent were worth $408,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in Confluent in the 1st quarter worth about $26,000. Quest Partners LLC bought a new position in Confluent in the 4th quarter worth about $31,000. V Square Quantitative Management LLC bought a new position in Confluent in the 2nd quarter worth about $68,000. UniSuper Management Pty Ltd raised its position in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Up 3.1 %

NASDAQ:CFLT opened at $20.75 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The stock has a 50-day simple moving average of $22.16 and a 200 day simple moving average of $26.89. Confluent, Inc. has a one year low of $14.69 and a one year high of $35.07. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of -16.60 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. Sell-side analysts predict that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CTO Chad Verbowski sold 8,312 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $26.76, for a total value of $222,429.12. Following the transaction, the chief technology officer now owns 510,347 shares of the company’s stock, valued at $13,656,885.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,045,235.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Chad Verbowski sold 8,312 shares of Confluent stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $26.76, for a total transaction of $222,429.12. Following the transaction, the chief technology officer now owns 510,347 shares in the company, valued at $13,656,885.72. The disclosure for this sale can be found here. Insiders have sold a total of 533,433 shares of company stock valued at $11,074,955 over the last quarter. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

CFLT has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Bank of America lowered their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. DA Davidson lowered their target price on shares of Confluent from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Loop Capital decreased their price target on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. raised shares of Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.69.

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.