Hel Ved Capital Management Ltd Increases Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Hel Ved Capital Management Ltd boosted its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 314.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 119,802 shares of the company's stock after purchasing an additional 90,920 shares during the period. Hel Ved Capital Management Ltd's holdings in Confluent were worth $3,350,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Landscape Capital Management L.L.C. purchased a new position in Confluent during the fourth quarter valued at approximately $1,409,000. Resolute Advisors LLC acquired a new position in shares of Confluent in the 4th quarter valued at $273,000. ExodusPoint Capital Management LP purchased a new stake in Confluent during the fourth quarter worth $6,892,000. Trexquant Investment LP grew its position in Confluent by 4,111.5% during the fourth quarter. Trexquant Investment LP now owns 652,193 shares of the company's stock valued at $18,235,000 after buying an additional 636,707 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Confluent by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock valued at $123,339,000 after buying an additional 84,163 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CFLT shares. Morgan Stanley raised their target price on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. Scotiabank raised their price target on shares of Confluent from $27.00 to $35.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Loop Capital cut their price objective on Confluent from $34.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Finally, Stifel Nicolaus raised their target price on Confluent from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.15.

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Insider Activity

In related news, CAO Kong Phan sold 2,178 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $68,781.24. Following the sale, the chief accounting officer now owns 177,415 shares of the company's stock, valued at $5,602,765.70. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company's stock, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,200,746 shares of company stock worth $38,505,150. Corporate insiders own 13.82% of the company's stock.

Confluent Trading Down 8.1 %

Confluent stock traded down $1.85 during midday trading on Thursday, reaching $21.01. 1,872,524 shares of the stock traded hands, compared to its average volume of 4,471,380. The firm has a market cap of $7.02 billion, a PE ratio of -19.31 and a beta of 1.03. 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 company has a 50-day simple moving average of $27.94 and a two-hundred day simple moving average of $27.26. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. 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.