Daiwa Securities Group Inc. Grows Position in Confluent, Inc. (NASDAQ:CFLT)

Daiwa Securities Group Inc. grew its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,300 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Confluent were worth $264,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CFLT. Vanguard Group Inc. boosted its stake in shares of Confluent by 13.0% during the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after purchasing an additional 2,125,843 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Confluent in the fourth quarter valued at $29,833,000. Charles Schwab Investment Management Inc. boosted its holdings in Confluent by 82.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,826,876 shares of the company’s stock valued at $54,094,000 after acquiring an additional 824,436 shares in the last quarter. Swiss National Bank bought a new stake in Confluent in the third quarter valued at $15,590,000. Finally, Invesco Ltd. boosted its holdings in Confluent by 14.0% in the third quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock valued at $113,230,000 after acquiring an additional 470,002 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Trading Up 3.0 %

Confluent stock opened at $29.75 on Friday. The business has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $26.39. The company has a market cap of $9.30 billion, a P/E ratio of -20.24 and a beta of 0.91. Confluent, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. Analysts predict that Confluent, Inc. will post -0.92 EPS for the current year.

Insider Activity at Confluent

In related news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the transaction, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the transaction, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Stephanie Buscemi sold 2,724 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the transaction, the chief marketing officer now directly owns 109,002 shares in the company, valued at $3,504,414.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Loop Capital assumed coverage on shares of Confluent in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price target on the stock. UBS Group lifted their price target on shares of Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Finally, Scotiabank raised their price objective on Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.64.

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.