Confluent, Inc. (NASDAQ:CFLT) Shares Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd boosted its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 314.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 119,802 shares of the company’s stock after buying an additional 90,920 shares during the quarter. Hel Ved Capital Management Ltd’s holdings in Confluent were worth $3,350,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CFLT. Vanguard Group Inc. increased its stake 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. Geode Capital Management LLC increased its position in Confluent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after buying an additional 84,163 shares in the last quarter. Norges Bank acquired a new position in shares of Confluent in the fourth quarter worth $81,092,000. Charles Schwab Investment Management Inc. lifted its position in shares of Confluent by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company’s stock valued at $65,860,000 after acquiring an additional 71,454 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after acquiring an additional 2,319,919 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Stock Performance

Confluent stock opened at $20.17 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm’s fifty day moving average price is $28.82 and its 200 day moving average price is $27.24. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -18.68 and a beta of 0.90. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

Confluent (NASDAQ:CFLT) last released 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%. On average, research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Rohan Sivaram sold 68,350 shares of the 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 of the company’s stock, valued at approximately $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michelangelo Volpi sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $905,500.00. Following the sale, the director now owns 292,079 shares in the company, valued at $10,579,101.38. The trade was a 7.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,200,746 shares of company stock worth $38,505,150. 13.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. William Blair reissued an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. UBS Group raised shares of Confluent from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $38.00 in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Confluent in a report on Friday, March 7th. Finally, Evercore ISI raised their price objective on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.15.

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.