Emerald Advisers LLC Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Emerald Advisers LLC bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,689 shares of the company’s stock, valued at approximately $467,000.

Several other hedge funds also recently made changes to their positions in CFLT. Jacobs Levy Equity Management Inc. grew its position in Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after buying an additional 802,353 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Confluent during the 4th quarter valued at $20,061,000. Vanguard Group Inc. grew its holdings in shares of Confluent by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after purchasing an additional 599,582 shares in the last quarter. Trivest Advisors Ltd bought a new position in shares of Confluent in the fourth quarter worth $11,989,000. Finally, Savant Capital LLC acquired a new position in Confluent in the fourth quarter valued at about $10,607,000. 78.09% of the stock is owned by institutional investors.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 2,178 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the sale, the chief accounting officer now owns 177,415 shares of the company’s stock, valued at $5,602,765.70. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Erica Schultz sold 150,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the transaction, the insider now owns 678,016 shares in the company, valued at $24,286,533.12. The trade was a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,197,571 shares of company stock valued at $38,419,870. Corporate insiders own 13.82% of the company’s stock.

Confluent Stock Performance

NASDAQ:CFLT opened at $26.50 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The company has a 50 day simple moving average of $29.46 and a two-hundred day simple moving average of $27.03. The company has a market capitalization of $8.85 billion, a PE ratio of -24.54 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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 return on equity of 34.70% and a negative net margin of 35.81%. Research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CFLT. Scotiabank increased their price objective on shares of Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Confluent in a research report on Monday, March 17th. Canaccord Genuity Group lifted their price objective on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler upped their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

About Confluent

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.