Daiwa Securities Group Inc. Has $264,000 Position in Confluent, Inc. (NASDAQ:CFLT)

Daiwa Securities Group Inc. grew its stake in Confluent, Inc. (NASDAQ:CFLT) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,300 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Confluent were worth $264,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 purchasing an additional 2,125,843 shares during the period. Invesco Ltd. raised its position 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 purchasing an additional 470,002 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 824,436 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of Confluent in the fourth quarter valued at about $29,833,000. Finally, Bank of New York Mellon Corp raised its position in shares of Confluent by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 1,071,263 shares of the company’s stock valued at $31,720,000 after purchasing an additional 15,944 shares during the period. 78.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CFLT shares. UBS Group raised their price target on shares of Confluent from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. Needham & Company LLC increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. DA Davidson reiterated a “buy” rating and set a $37.00 price objective on shares of Confluent in a research note on Monday, April 1st. Mizuho reduced their price objective on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Finally, Wells Fargo & Company raised their price target on shares of Confluent from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average target price of $30.64.

Confluent Stock Up 3.0 %

Confluent stock opened at $29.75 on Friday. 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, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The firm has a 50 day moving average price of $30.92 and a two-hundred day moving average price of $26.39. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of -20.24 and a beta of 0.91.

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

Insiders Place Their Bets

In other news, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the completion of the sale, the insider now owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is currently owned by insiders.

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.