Federated Hermes Inc. Has $12.39 Million Holdings in Confluent, Inc. (NASDAQ:CFLT)

Federated Hermes Inc. grew its stake in Confluent, Inc. (NASDAQ:CFLT) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 529,619 shares of the company’s stock after buying an additional 135,330 shares during the quarter. Federated Hermes Inc.’s holdings in Confluent were worth $12,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CFLT. Vanguard Group Inc. boosted its holdings in shares of Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after buying an additional 2,125,843 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Confluent in the fourth quarter valued at approximately $29,833,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Confluent by 82.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,826,876 shares of the company’s stock valued at $54,094,000 after buying an additional 824,436 shares during the period. Swiss National Bank acquired a new position in shares of Confluent in the third quarter valued at approximately $15,590,000. Finally, Invesco Ltd. boosted its holdings in shares of Confluent by 14.0% in the third quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock valued at $113,230,000 after buying an additional 470,002 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Price Performance

NASDAQ:CFLT opened at $28.53 on Wednesday. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a market cap of $8.92 billion, a P/E ratio of -19.41 and a beta of 0.91. The firm’s fifty day moving average price is $31.20 and its two-hundred day moving average price is $26.36. 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 released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $213.18 million during the quarter, compared to analyst estimates of $204.62 million. Equities analysts expect that Confluent, Inc. will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Confluent

In related news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now directly owns 479,537 shares in the company, valued at $15,225,299.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now directly owns 479,537 shares in the company, valued at $15,225,299.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michelangelo Volpi sold 637,268 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 302,306 shares in the company, valued at $9,592,169.38. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock worth $46,438,029 over the last ninety days. Insiders own 22.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays boosted their price objective on shares of Confluent from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Needham & Company LLC boosted their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. DA Davidson reissued a “buy” rating and issued a $37.00 price objective on shares of Confluent in a research report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Loop Capital assumed coverage on shares of Confluent in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price 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.