Cetera Investment Advisers Increases Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Cetera Investment Advisers lifted its position in Confluent, Inc. (NASDAQ:CFLT) by 31.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,157 shares of the company’s stock after purchasing an additional 15,711 shares during the quarter. Cetera Investment Advisers’ holdings in Confluent were worth $1,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Credit Industriel ET Commercial purchased a new stake in shares of Confluent in the fourth quarter valued at about $28,000. Blue Trust Inc. grew its holdings in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Confluent in the fourth quarter valued at about $59,000. AlphaQuest LLC grew its holdings in shares of Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after purchasing an additional 3,538 shares during the period. Finally, IFP Advisors Inc lifted its position in Confluent by 48.4% in the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock valued at $138,000 after buying an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of recent analyst reports. DA Davidson decreased their target price on shares of Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Confluent from $32.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. UBS Group decreased their target price on shares of Confluent from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. William Blair reaffirmed an “outperform” rating on shares of Confluent in a research report on Monday, March 17th. Finally, JMP Securities decreased their target price on shares of Confluent from $40.00 to $36.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $30.11.

Insiders Place Their Bets

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $14,628,937.04. The trade was a 33.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erica Schultz sold 126,730 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $4,002,133.40. Following the sale, the insider now owns 552,424 shares in the company, valued at $17,445,549.92. The trade was a 18.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 970,821 shares of company stock worth $29,036,240. Corporate insiders own 9.20% of the company’s stock.

Confluent Stock Down 2.9%

CFLT stock opened at $21.89 on Tuesday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a market cap of $7.45 billion, a P/E ratio of -20.27 and a beta of 1.02. The company’s 50 day moving average is $22.86 and its two-hundred day moving average is $27.34. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same period last year, the firm posted $0.05 EPS. Confluent’s quarterly revenue was up 24.8% on a year-over-year basis. Research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.