Emerald Advisers LLC Makes New $467,000 Investment in Confluent, Inc. (NASDAQ:CFLT)

Emerald Advisers LLC purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 16,689 shares of the company's stock, valued at approximately $467,000.

A number of other large investors have also made changes to their positions in the business. Blue Trust Inc. grew its stake in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter valued at approximately $68,000. GAMMA Investing LLC boosted its stake in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after purchasing an additional 1,136 shares in the last quarter. Finally, AlphaQuest LLC grew its position in Confluent by 22,112.5% during 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 during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Stock Down 4.8 %

Shares of CFLT stock traded down $1.24 on Friday, reaching $24.33. 4,455,044 shares of the stock were exchanged, compared to its average volume of 4,364,834. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of -22.53 and a beta of 0.90. The business's 50 day moving average price is $29.36 and its 200 day moving average price is $27.14. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

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Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS 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%. As a group, sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CFLT shares. Piper Sandler boosted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $40.00 price target on shares of Confluent in a research report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. Royal Bank of Canada lifted their price target on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, Guggenheim upped their price objective on Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One 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 stock. Based on data from MarketBeat, Confluent has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Insider Transactions at Confluent

In related news, CAO Kong Phan sold 2,178 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the sale, the chief accounting officer now directly owns 177,415 shares of the company's stock, valued at $5,602,765.70. This represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rohan Sivaram sold 11,000 shares of Confluent stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $31.14, for a total value of $342,540.00. Following the transaction, the chief financial officer now directly owns 701,403 shares in the company, valued at approximately $21,841,689.42. This trade represents a 1.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,200,746 shares of company stock worth $38,505,150. 13.82% of the stock is currently owned by 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.