Confluent, Inc. (NASDAQ:CFLT) Shares Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd boosted its stake in Confluent, Inc. (NASDAQ:CFLT) by 314.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 119,802 shares of the company’s stock after purchasing an additional 90,920 shares during the period. Hel Ved Capital Management Ltd’s holdings in Confluent were worth $3,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in shares of Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares during the period. GAMMA Investing LLC increased its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Confluent by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock worth $472,000 after buying an additional 1,137 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Activity

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $905,500.00. Following the completion of the transaction, the director now directly owns 292,079 shares of the company’s stock, valued at approximately $10,579,101.38. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock valued at $38,505,150 in the last three months. 13.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CFLT. Mizuho upped their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler increased their price target on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Guggenheim lifted their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Loop Capital reduced their target price on shares of Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Finally, William Blair reiterated an “outperform” rating on shares of Confluent in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.15.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $20.17 on Friday. The stock has a fifty day moving average price of $28.82 and a 200 day moving average price of $27.24. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $6.74 billion, a PE ratio of -18.68 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. Sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

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.