J.W. Cole Advisors Inc. Takes Position in Confluent, Inc. (NASDAQ:CFLT)

J.W. Cole Advisors Inc. purchased a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,050 shares of the company's stock, valued at approximately $281,000.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares during the period. GAMMA Investing LLC lifted its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after purchasing an additional 1,136 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Confluent during the third quarter worth about $68,000. Pacer Advisors Inc. lifted its stake in Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company's stock worth $170,000 after purchasing an additional 1,619 shares during the last quarter. Finally, DMC Group LLC bought a new stake in Confluent during the fourth quarter worth about $201,000. Institutional investors own 78.09% of the company's stock.

Insiders Place Their Bets

In other Confluent news, insider Erica Schultz sold 63,729 shares of the company's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now owns 678,016 shares in the company, valued at $21,425,305.60. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,140,614 shares of company stock worth $38,017,784 over the last quarter. 13.82% of the stock is currently owned by corporate insiders.

Confluent Stock Down 4.7 %

CFLT stock traded down $1.53 during midday trading on Friday, hitting $31.01. The company's stock had a trading volume of 8,023,704 shares, compared to its average volume of 5,634,724. The company has a market cap of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. 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 firm's 50-day moving average is $29.85 and its 200-day moving average is $25.84.

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 forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC lifted their price target on Confluent from $31.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. TD Cowen boosted their price target on Confluent from $27.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Sanford C. Bernstein reduced their target price on Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler upped their target price on Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

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.