98,116 Shares in Confluent, Inc. (NASDAQ:CFLT) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 98,116 shares of the company’s stock, valued at approximately $2,296,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Suisse AG boosted its position in Confluent by 1.7% during the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock valued at $495,000 after buying an additional 362 shares during the period. Avestar Capital LLC boosted its position in Confluent by 3.3% during the third quarter. Avestar Capital LLC now owns 11,466 shares of the company’s stock valued at $340,000 after buying an additional 370 shares during the period. Xponance Inc. boosted its position in Confluent by 1.7% during the third quarter. Xponance Inc. now owns 26,427 shares of the company’s stock valued at $783,000 after buying an additional 440 shares during the period. PNC Financial Services Group Inc. boosted its position in Confluent by 22.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,669 shares of the company’s stock valued at $94,000 after buying an additional 487 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Confluent by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 62,332 shares of the company’s stock valued at $1,482,000 after buying an additional 491 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Confluent

In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the transaction, the chief technology officer now owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The sale was disclosed in a legal 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 firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the transaction, the chief technology officer now owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelangelo Volpi sold 637,268 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the transaction, the director now directly owns 302,306 shares of the company’s stock, valued at approximately $9,592,169.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,433,170 shares of company stock valued at $46,438,029. Corporate insiders own 22.08% of the company’s stock.

Confluent Price Performance

CFLT stock opened at $27.41 on Friday. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $41.22. The firm has a 50-day moving average of $31.45 and a 200 day moving average of $26.43. The company has a market cap of $8.57 billion, a P/E ratio of -18.65 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62.

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

Analyst Ratings Changes

Several analysts have issued reports on CFLT shares. The Goldman Sachs Group upped their price target on shares of Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. JMP Securities upped their price target on shares of Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Barclays upped their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. UBS Group upped their price objective on shares of Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

Confluent 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.