Stratos Wealth Advisors LLC Buys Shares of 9,000 Confluent, Inc. (NASDAQ:CFLT)

Stratos Wealth Advisors LLC purchased a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,000 shares of the company's stock, valued at approximately $252,000.

A number of other hedge funds have also recently modified their holdings of CFLT. Blue Trust Inc. raised its holdings in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Confluent in the third quarter worth about $68,000. GAMMA Investing LLC raised its position in shares of 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 acquiring an additional 1,136 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company's stock valued at $170,000 after purchasing an additional 1,619 shares in the last quarter. Finally, DMC Group LLC purchased a new stake in Confluent in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Activity at Confluent

In related news, Director Matthew Craig Miller sold 53,512 shares of the company's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $33.64, for a total transaction of $1,800,143.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Kong Phan sold 2,096 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08. Following the transaction, the chief accounting officer now owns 190,680 shares of the company's stock, valued at $5,382,896.40. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,825,395 shares of company stock valued at $85,343,808. Corporate insiders own 13.82% of the company's stock.

Confluent Price Performance

NASDAQ CFLT traded down $1.41 during trading hours on Tuesday, reaching $30.05. The company's stock had a trading volume of 8,226,702 shares, compared to its average volume of 4,173,505. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of -27.07 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm's 50-day moving average price is $29.52 and its 200-day moving average price is $25.25.

Analyst Ratings Changes

CFLT has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Barclays lifted their price target on Confluent from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Stifel Nicolaus increased their price objective on shares of Confluent from $34.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Finally, Guggenheim increased their price target on shares of Confluent from $32.00 to $35.00 and gave the company a "buy" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.30.

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.