Mitsubishi UFJ Asset Management Co. Ltd. Has $960,000 Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 46.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,797 shares of the company's stock after selling 29,000 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Confluent were worth $960,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Cerity Partners LLC boosted its holdings in shares of Confluent by 28.1% in the third quarter. Cerity Partners LLC now owns 35,129 shares of the company's stock valued at $716,000 after buying an additional 7,705 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Confluent by 52.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,907 shares of the company's stock valued at $874,000 after acquiring an additional 14,725 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Confluent in the 3rd quarter worth $68,000. Paloma Partners Management Co bought a new position in Confluent during the 3rd quarter worth about $303,000. Finally, Janus Henderson Group PLC increased its holdings in Confluent by 873.2% during the 3rd quarter. Janus Henderson Group PLC now owns 102,600 shares of the company's stock worth $2,092,000 after purchasing an additional 92,058 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CFLT has been the subject of a number of research reports. Loop Capital decreased their price objective on Confluent from $34.00 to $30.00 and set a "hold" rating for the company in a report on Monday, March 10th. UBS Group raised Confluent from a "neutral" rating to a "buy" rating and upped their price target for the stock from $34.00 to $38.00 in a research report on Wednesday, February 26th. Evercore ISI lifted their price objective on shares of Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their target price on shares of Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Confluent currently has an average rating of "Moderate Buy" and a consensus price target of $35.15.

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Confluent Stock Performance

NASDAQ CFLT traded up $0.22 on Monday, reaching $20.39. The stock had a trading volume of 10,793,263 shares, compared to its average volume of 4,433,667. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $6.81 billion, a P/E ratio of -18.88 and a beta of 1.03. The firm has a fifty day moving average of $28.65 and a two-hundred day moving average of $27.33. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly 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 net margin of 35.81% and a negative return on equity of 34.70%. On average, equities research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Confluent

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $905,500.00. Following the sale, the director now directly owns 292,079 shares in the company, valued at $10,579,101.38. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Kong Phan sold 3,175 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were 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 approximately $6,621,419.76. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is currently owned by company insiders.

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.