Nordea Investment Management AB Boosts Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Nordea Investment Management AB lifted its stake in Confluent, Inc. (NASDAQ:CFLT) by 43.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,143 shares of the company’s stock after buying an additional 3,361 shares during the period. Nordea Investment Management AB’s holdings in Confluent were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CFLT. Woodstock Corp bought a new position in shares of Confluent in the fourth quarter worth approximately $373,000. Renaissance Capital LLC grew its holdings in Confluent by 26.3% in the 4th quarter. Renaissance Capital LLC now owns 118,197 shares of the company’s stock worth $2,766,000 after acquiring an additional 24,648 shares during the last quarter. DNB Asset Management AS increased its position in shares of Confluent by 284.8% in the fourth quarter. DNB Asset Management AS now owns 82,131 shares of the company’s stock valued at $1,921,000 after acquiring an additional 60,787 shares during the period. Vanguard Group Inc. raised 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 acquiring an additional 2,125,843 shares during the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in shares of Confluent during the third quarter worth about $455,000. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the sale, the insider now directly owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the sale, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the transaction, the insider now directly owns 479,537 shares in the company, valued at $15,225,299.75. The disclosure for this sale can be found here. Insiders sold 1,433,170 shares of company stock worth $46,438,029 over the last 90 days. 22.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Scotiabank boosted their target price on Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Loop Capital initiated coverage on shares of Confluent in a report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. JMP Securities increased their price target on shares of Confluent from $25.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC lifted their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.92.

Confluent Price Performance

NASDAQ CFLT opened at $30.21 on Thursday. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of -20.55 and a beta of 0.95. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $41.22. The company’s 50 day moving average is $29.59 and its two-hundred day moving average is $26.60. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34.

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

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.