Confluent, Inc. (NASDAQ:CFLT) Holdings Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 41.4% during the 4th quarter, HoldingsChannel reports. The fund owned 37,892 shares of the company’s stock after acquiring an additional 11,100 shares during the period. Handelsbanken Fonder AB’s holdings in Confluent were worth $887,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock worth $545,546,000 after buying an additional 2,125,843 shares during the last quarter. Invesco Ltd. increased its stake in shares of Confluent by 14.0% during the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock worth $113,230,000 after purchasing an additional 470,002 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Confluent by 82.2% during the 3rd 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 in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Confluent in the 4th quarter valued at $29,833,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 worth $31,720,000 after purchasing an additional 15,944 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CFLT. JPMorgan Chase & Co. raised their target price on Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JMP Securities upped their target price on Confluent from $25.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 8th. Needham & Company LLC increased their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Mizuho reduced their price objective on shares of Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Finally, Royal Bank of Canada raised their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.64.

Confluent Stock Down 3.0 %

Shares of CFLT stock opened at $28.86 on Tuesday. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62. The stock has a fifty day moving average price of $30.82 and a 200 day moving average price of $26.31. The stock has a market cap of $9.02 billion, a P/E ratio of -19.63 and a beta of 0.91.

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

Insider Buying and Selling at Confluent

In other news, Director Michelangelo Volpi sold 637,268 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.73, for a total value of $20,220,513.64. Following the completion of the transaction, the director now directly owns 302,306 shares of the company’s stock, valued at approximately $9,592,169.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated 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 transaction, the insider now directly owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelangelo Volpi sold 637,268 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the sale, the director now directly owns 302,306 shares in the company, valued at $9,592,169.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is currently owned by corporate insiders.

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.