Y Intercept Hong Kong Ltd Has $1.37 Million Position in Confluent, Inc. (NASDAQ:CFLT)

Y Intercept Hong Kong Ltd raised its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 57.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,923 shares of the company’s stock after purchasing an additional 17,803 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Confluent were worth $1,368,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CFLT. EP Wealth Advisors LLC grew its holdings in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after acquiring an additional 503 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after acquiring an additional 514 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 1,136 shares in the last quarter. Blue Trust Inc. boosted its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after purchasing an additional 1,619 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Confluent news, Director Matthew Craig Miller sold 53,512 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $33.64, for a total transaction of $1,800,143.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Erica Schultz sold 113,729 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $30.29, for a total transaction of $3,444,851.41. Following the sale, the insider now directly owns 502,424 shares in the company, valued at $15,218,422.96. This trade represents a 18.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,394,730 shares of company stock valued at $45,827,255 over the last quarter. Corporate insiders own 13.82% of the company’s stock.

Confluent Stock Performance

NASDAQ:CFLT opened at $30.44 on Wednesday. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. The firm has a 50-day moving average price of $29.84 and a 200 day moving average price of $26.17.

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

Wall Street Analyst Weigh In

CFLT has been the subject of a number of recent research reports. Canaccord Genuity Group upped their price objective on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Robert W. Baird upped their price objective on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup upped their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Piper Sandler upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.