Swiss National Bank Grows Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Swiss National Bank increased its stake in Confluent, Inc. (NASDAQ:CFLT) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 467,300 shares of the company’s stock after acquiring an additional 11,400 shares during the period. Swiss National Bank owned about 0.14% of Confluent worth $13,066,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CFLT. Blue Trust Inc. lifted its position in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Confluent during the 4th quarter valued at $59,000. GAMMA Investing LLC grew its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Confluent in the 3rd quarter worth $68,000. Finally, AlphaQuest LLC raised its stake in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after acquiring an additional 3,538 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Trading Up 3.4 %

Shares of CFLT stock opened at $27.25 on Thursday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock has a market capitalization of $9.10 billion, a P/E ratio of -25.23 and a beta of 0.90. The firm’s 50 day moving average is $29.53 and its 200 day moving average is $26.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Confluent news, CAO Kong Phan sold 3,947 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the sale, the chief accounting officer now directly owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,201,518 shares of company stock valued at $38,533,306. Insiders own 13.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. William Blair reaffirmed an “outperform” rating on shares of Confluent in a research note on Monday. Truist Financial boosted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Piper Sandler raised their target price on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.33.

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.