NINE MASTS CAPITAL Ltd Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

NINE MASTS CAPITAL Ltd purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 8,057 shares of the company’s stock, valued at approximately $238,000.

Other large investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Confluent in the first quarter valued at about $26,000. Quest Partners LLC purchased a new position in shares of Confluent in the 4th quarter worth approximately $31,000. V Square Quantitative Management LLC bought a new position in shares of Confluent during the 2nd quarter worth approximately $68,000. UniSuper Management Pty Ltd lifted its position in Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Stock Performance

NASDAQ CFLT opened at $19.49 on Thursday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $35.07. The stock has a 50-day moving average of $22.70 and a 200 day moving average of $27.21. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of -15.59 and a beta of 0.89.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to analysts’ expectations of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. Sell-side analysts anticipate that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on CFLT shares. TD Cowen decreased their price objective on Confluent from $34.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group lowered their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Truist Financial restated a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. Bank of America decreased their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Confluent in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $30.69.

Insider Activity

In other Confluent news, CTO Chad Verbowski sold 8,312 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $26.76, for a total transaction of $222,429.12. Following the completion of the sale, the chief technology officer now directly owns 510,347 shares in the company, valued at approximately $13,656,885.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Chad Verbowski sold 8,312 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $26.76, for a total transaction of $222,429.12. Following the sale, the chief technology officer now directly owns 510,347 shares of the company’s stock, valued at approximately $13,656,885.72. The disclosure for this sale can be found here. Insiders have sold a total of 533,433 shares of company stock worth $11,074,955 over the last 90 days. 13.82% of the stock is currently owned by company insiders.

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.