Friedenthal Financial Acquires New Holdings in Confluent, Inc. (NASDAQ:CFLT)

Friedenthal Financial bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,103 shares of the company's stock, valued at approximately $758,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Confluent by 85.3% during the 4th 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 period. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the third quarter worth approximately $68,000. Acadian Asset Management LLC acquired a new position in Confluent in the second quarter valued at approximately $175,000. Plato Investment Management Ltd grew its holdings in Confluent by 2,184.1% during the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company's stock worth $195,000 after acquiring an additional 6,312 shares during the period. Finally, Moody National Bank Trust Division acquired a new stake in Confluent during the 4th quarter worth $203,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Michelangelo Volpi sold 50,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $25.92, for a total value of $1,296,000.00. Following the completion of the sale, the director now directly owns 280,200 shares in the company, valued at $7,262,784. The trade was a 15.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the transaction, the insider now owns 687,483 shares in the company, valued at $18,837,034.20. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,584,712 shares of company stock valued at $132,928,936 over the last 90 days. 13.82% of the stock is currently owned by insiders.

Confluent Stock Down 2.5 %

CFLT traded down $0.69 on Monday, hitting $26.95. 3,416,414 shares of the company were exchanged, compared to its average volume of 2,754,171. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock's fifty day moving average is $29.61 and its 200-day moving average is $24.96. The company has a market cap of $8.84 billion, a PE ratio of -24.28 and a beta of 0.91. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Equities research analysts predict that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

CFLT has been the subject of a number of analyst reports. Barclays lifted their price objective on Confluent from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Royal Bank of Canada boosted their target price on Confluent from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of Confluent from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Wolfe Research raised shares of Confluent to a "strong-buy" rating in a research note on Wednesday, September 18th. Finally, Truist Financial upped their target price on shares of Confluent from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average target price of $32.46.

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.