Nomura Asset Management Co. Ltd. Purchases New Position in Confluent, Inc. (NASDAQ:CFLT)

Nomura Asset Management Co. Ltd. bought a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 330,000 shares of the company's stock, valued at approximately $9,227,000. Nomura Asset Management Co. Ltd. owned about 0.10% of Confluent at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. M&T Bank Corp grew its position in shares of Confluent by 12.3% during the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company's stock worth $602,000 after buying an additional 2,367 shares during the period. Quantbot Technologies LP grew its holdings in Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company's stock worth $617,000 after acquiring an additional 28,360 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company's stock worth $46,549,000 after acquiring an additional 64,926 shares during the period. XTX Topco Ltd bought a new stake in shares of Confluent during the 3rd quarter valued at $868,000. Finally, Friedenthal Financial acquired a new position in shares of Confluent in the 4th quarter valued at $758,000. 78.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Confluent from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 12th. Mizuho boosted their price target on shares of Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, December 13th. UBS Group upgraded shares of Confluent from a "neutral" rating to a "buy" rating and upped their price objective for the company from $34.00 to $38.00 in a research report on Wednesday, February 26th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 target price on shares of Confluent in a report on Friday, March 7th. Finally, Guggenheim increased their price target on Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.15.

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Insider Activity at Confluent

In related news, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the transaction, the chief accounting officer now directly owns 246,516 shares in the company, valued at $6,621,419.76. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erica Schultz sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the completion of the transaction, the insider now owns 678,016 shares in the company, valued at approximately $24,286,533.12. This trade represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,200,746 shares of company stock worth $38,505,150. Insiders own 13.82% of the company's stock.

Confluent Stock Down 4.9 %

Shares of CFLT traded down $1.03 during trading hours on Friday, hitting $20.17. The stock had a trading volume of 7,211,116 shares, compared to its average volume of 4,408,196. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The firm has a market capitalization of $6.74 billion, a P/E ratio of -18.68 and a beta of 0.90. The firm has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $27.28. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

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.