73,040 Shares in Confluent, Inc. (NASDAQ:CFLT) Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. purchased a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 73,040 shares of the company's stock, valued at approximately $2,042,000.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent during the fourth quarter valued at $59,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the 3rd quarter valued at $68,000. GAMMA Investing LLC lifted its holdings in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after purchasing an additional 1,136 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after purchasing an additional 3,538 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 3,947 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares of the company's stock, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,201,518 shares of company stock valued at $38,533,306. Corporate insiders own 13.82% of the company's stock.

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Analysts Set New Price Targets

CFLT has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Confluent from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Scotiabank lifted their price target on Confluent from $27.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Mizuho increased their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Confluent in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Confluent from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.33.

Confluent Price Performance

CFLT stock traded down $0.63 during trading on Thursday, reaching $26.62. The company's stock had a trading volume of 3,149,003 shares, compared to its average volume of 5,958,213. The company's fifty day moving average is $29.53 and its 200-day moving average is $26.90. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a market capitalization of $8.89 billion, a P/E ratio of -24.65 and a beta of 0.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. On average, research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Confluent 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.