Friedenthal Financial Makes New $758,000 Investment in Confluent, Inc. (NASDAQ:CFLT)

Friedenthal Financial purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, HoldingsChannel reports. The fund purchased 27,103 shares of the company’s stock, valued at approximately $758,000.

A number of other large investors have also recently modified their holdings of CFLT. GAMMA Investing LLC raised its stake in Confluent by 85.3% in the fourth 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 in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent during the 3rd quarter valued at $68,000. Acadian Asset Management LLC purchased a new stake in shares of Confluent during the 2nd quarter valued at $175,000. Plato Investment Management Ltd lifted its holdings in shares of Confluent by 2,184.1% during the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after acquiring an additional 6,312 shares during the last quarter. Finally, Moody National Bank Trust Division purchased a new position in Confluent in the fourth quarter worth $203,000. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Down 2.5 %

NASDAQ:CFLT traded down $0.69 during trading hours on Monday, reaching $26.95. 3,359,747 shares of the company traded hands, compared to its average volume of 2,591,144. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $29.60 and its two-hundred day moving average price is $24.98. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The stock has a market capitalization of $8.84 billion, a P/E ratio of -24.28 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Insider Activity at Confluent

In related news, CAO Kong Phan sold 2,096 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08. Following the transaction, the chief accounting officer now owns 190,680 shares in the company, valued at $5,382,896.40. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of Confluent stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the sale, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,584,712 shares of company stock valued at $132,928,936 over the last 90 days. Corporate insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group boosted their target price on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Sanford C. Bernstein reduced their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Barclays boosted their price objective on shares of Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Confluent in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Confluent has a consensus rating of “Moderate Buy” and a consensus price target of $32.46.

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.