Asset Management One Co. Ltd. Purchases 31,947 Shares of Confluent, Inc. (NASDAQ:CFLT)

Asset Management One Co. Ltd. raised its holdings in Confluent, Inc. (NASDAQ:CFLT) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,942 shares of the company’s stock after buying an additional 31,947 shares during the period. Asset Management One Co. Ltd.’s holdings in Confluent were worth $4,263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CFLT. Bank of New York Mellon Corp raised its stake in Confluent by 720.4% in the first quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock valued at $11,170,000 after buying an additional 239,232 shares during the period. Bank of Montreal Can raised its stake in Confluent by 3,176.6% in the first quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock valued at $6,215,000 after buying an additional 145,391 shares during the period. Great West Life Assurance Co. Can bought a new stake in Confluent in the first quarter valued at approximately $5,322,000. Dimensional Fund Advisors LP bought a new stake in Confluent in the first quarter valued at approximately $507,000. Finally, Blair William & Co. IL raised its stake in Confluent by 13.1% in the first quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock valued at $793,000 after buying an additional 2,235 shares during the period. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, insider Erica Schultz sold 63,729 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $33.91, for a total value of $2,161,050.39. Following the completion of the transaction, the insider now directly owns 706,715 shares in the company, valued at $23,964,705.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the transaction, the chief technology officer now directly owns 532,072 shares in the company, valued at $16,600,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.91, for a total value of $2,161,050.39. Following the completion of the transaction, the insider now owns 706,715 shares of the company’s stock, valued at $23,964,705.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is currently owned by insiders.

Confluent Trading Up 0.7 %

Shares of CFLT stock opened at $29.82 on Friday. The stock’s fifty day moving average price is $31.20 and its two-hundred day moving average price is $26.46. The company has a market cap of $9.32 billion, a PE ratio of -20.29 and a beta of 0.91. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. Equities analysts predict that Confluent, Inc. will post -0.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CFLT. JPMorgan Chase & Co. upped their target price on Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. UBS Group upped their target price on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, February 5th. Mizuho upped their target price on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, February 16th. JMP Securities upped their target price on Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Finally, Wells Fargo & Company upped their target price on Confluent from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.72.

Confluent Company Profile

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.