Virtu Financial LLC Purchases New Holdings in Confluent, Inc. (NASDAQ:CFLT)

Virtu Financial LLC bought a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 20,697 shares of the company's stock, valued at approximately $579,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company's stock valued at $46,549,000 after buying an additional 64,926 shares during the last quarter. Cerity Partners LLC raised its stake in shares of Confluent by 28.1% in the third quarter. Cerity Partners LLC now owns 35,129 shares of the company's stock worth $716,000 after purchasing an additional 7,705 shares during the last quarter. Algert Global LLC purchased a new position in shares of Confluent in the third quarter worth $1,775,000. Qsemble Capital Management LP lifted its holdings in shares of Confluent by 195.7% during the third quarter. Qsemble Capital Management LP now owns 118,994 shares of the company's stock valued at $2,425,000 after purchasing an additional 78,746 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Confluent by 1,465.6% during the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company's stock valued at $617,000 after buying an additional 28,360 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CFLT shares. Truist Financial raised their price target on shares of Confluent from $35.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. UBS Group raised Confluent from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $34.00 to $38.00 in a report on Wednesday, February 26th. Finally, Bank of America increased their target price on Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.33.

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Confluent Price Performance

NASDAQ CFLT traded down $1.24 on Friday, reaching $24.33. The company had a trading volume of 4,455,044 shares, compared to its average volume of 4,364,834. The stock has a market capitalization of $8.13 billion, a PE ratio of -22.53 and a beta of 0.90. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm's 50 day moving average price is $29.36 and its 200 day moving average price is $27.20.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, equities analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.33, for a total value of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Kong Phan sold 6,346 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the sale, the chief accounting officer now owns 179,593 shares in the company, valued at approximately $6,504,858.46. This trade represents a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,200,746 shares of company stock worth $38,505,150. Insiders own 13.82% of the company's stock.

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.