Hsbc Holdings PLC Purchases 40,158 Shares of Confluent, Inc. (NASDAQ:CFLT)

Hsbc Holdings PLC lifted its position in Confluent, Inc. (NASDAQ:CFLTFree Report) by 35.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,061 shares of the company’s stock after buying an additional 40,158 shares during the quarter. Hsbc Holdings PLC’s holdings in Confluent were worth $3,566,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. UniSuper Management Pty Ltd bought a new stake in Confluent during the third quarter worth approximately $36,000. Rakuten Securities Inc. bought a new stake in Confluent during the fourth quarter worth approximately $31,000. Quest Partners LLC bought a new stake in Confluent during the fourth quarter worth approximately $31,000. GAMMA Investing LLC bought a new stake in Confluent during the fourth quarter worth approximately $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Confluent by 56.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company’s stock worth $81,000 after purchasing an additional 992 shares during the period. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Confluent in a research report on Wednesday, May 8th. TD Cowen upped their price target on Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Wells Fargo & Company upped their price target on Confluent from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, DA Davidson reiterated a “buy” rating and set a $37.00 price target on shares of Confluent in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $33.04.

Read Our Latest Analysis on Confluent

Insider Transactions at Confluent

In other news, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $33.03, for a total transaction of $2,104,968.87. Following the sale, the insider now owns 706,715 shares in the company, valued at $23,342,796.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lara Caimi sold 46,875 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $31.90, for a total value of $1,495,312.50. Following the transaction, the director now owns 5,399 shares in the company, valued at $172,228.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $33.03, for a total value of $2,104,968.87. Following the completion of the transaction, the insider now owns 706,715 shares in the company, valued at approximately $23,342,796.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 447,011 shares of company stock worth $14,034,531. Insiders own 13.82% of the company’s stock.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $26.36 on Thursday. The business’s fifty day moving average price is $29.27 and its two-hundred day moving average price is $27.36. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of -21.09 and a beta of 0.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07.

Confluent (NASDAQ:CFLTGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The company had revenue of $217.24 million during the quarter, compared to the consensus estimate of $211.57 million. Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. As a group, analysts predict that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

About Confluent

(Free Report)

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.

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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