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

Virtu Financial LLC acquired a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 20,697 shares of the company’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Confluent during the 4th quarter valued at $59,000. GAMMA Investing LLC raised its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the third quarter worth $68,000. Finally, AlphaQuest LLC grew its holdings in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after buying an additional 3,538 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Kong Phan sold 3,175 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $26.86, for a total transaction of $85,280.50. Following the transaction, the chief accounting officer now directly owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,200,746 shares of company stock worth $38,505,150 in the last ninety days. 13.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFLT. Evercore ISI increased their price objective on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus upped their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $38.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Confluent presently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Trading Down 1.5 %

Confluent stock opened at $26.89 on Wednesday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market capitalization of $8.98 billion, a PE ratio of -24.90 and a beta of 0.90. The business’s 50-day simple moving average is $29.46 and its 200-day simple moving average is $27.13.

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

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.