Wealth Enhancement Advisory Services LLC Has $4.69 Million Stock Position in Confluent, Inc. $CFLT

Wealth Enhancement Advisory Services LLC boosted its position in Confluent, Inc. (NASDAQ:CFLT) by 53.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,184 shares of the company’s stock after buying an additional 54,204 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Confluent were worth $4,685,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Confluent during the 3rd quarter worth $26,000. Danske Bank A S acquired a new stake in shares of Confluent in the third quarter valued at about $34,000. True Wealth Design LLC bought a new position in shares of Confluent in the third quarter worth about $36,000. Ramirez Asset Management Inc. acquired a new position in shares of Confluent during the 3rd quarter worth about $40,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Confluent during the 2nd quarter worth about $49,000. Institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CFLT. DA Davidson reaffirmed a “neutral” rating and issued a $31.00 target price (up from $29.00) on shares of Confluent in a report on Monday, December 8th. Citigroup upped their price target on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Wells Fargo & Company restated an “equal weight” rating and issued a $31.00 price objective on shares of Confluent in a research note on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Confluent and gave the stock a “hold” rating in a research report on Monday, December 8th. Finally, Royal Bank Of Canada cut shares of Confluent from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $30.00 to $31.00 in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.71.

Confluent Stock Performance

NASDAQ CFLT opened at $30.99 on Tuesday. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $31.00. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. The stock has a market cap of $11.08 billion, a P/E ratio of -36.03 and a beta of 0.95. The company’s 50-day simple moving average is $30.69 and its 200 day simple moving average is $26.82.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The firm had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, Director Neha Narkhede sold 80,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $2,447,200.00. Following the completion of the transaction, the director directly owned 28,549 shares in the company, valued at $873,313.91. This represents a 73.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Rohan Sivaram sold 29,996 shares of Confluent stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $30.67, for a total value of $919,977.32. Following the transaction, the chief financial officer directly owned 531,971 shares of the company’s stock, valued at approximately $16,315,550.57. The trade was a 5.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 525,929 shares of company stock worth $16,124,278 over the last three months. 9.20% of the stock is currently owned by insiders.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.