IFP Advisors Inc Purchases 1,613 Shares of Confluent, Inc. (NASDAQ:CFLT)

IFP Advisors Inc boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 48.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,945 shares of the company’s stock after purchasing an additional 1,613 shares during the period. IFP Advisors Inc’s holdings in Confluent were worth $138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CFLT. Y Intercept Hong Kong Ltd raised its holdings in shares of Confluent by 57.2% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 48,923 shares of the company’s stock valued at $1,368,000 after buying an additional 17,803 shares during the last quarter. Valliance Asset Management Ltd acquired a new position in Confluent during the 4th quarter worth $3,775,000. Capital Investment Counsel Inc bought a new position in Confluent in the 4th quarter valued at $232,000. Ieq Capital LLC increased its stake in shares of Confluent by 155.4% in the 4th quarter. Ieq Capital LLC now owns 80,889 shares of the company’s stock valued at $2,262,000 after buying an additional 49,214 shares during the period. Finally, Alberta Investment Management Corp bought a new stake in shares of Confluent during the fourth quarter worth $3,293,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Price Performance

Confluent stock opened at $29.82 on Wednesday. The stock has a 50-day moving average price of $29.96 and a two-hundred day moving average price of $26.51. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a market capitalization of $9.96 billion, a PE ratio of -27.61 and a beta of 0.92. 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 (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, Director Jonathan Chadwick sold 34,375 shares of Confluent stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $30.57, for a total value of $1,050,843.75. Following the completion of the sale, the director now owns 22,688 shares in the company, valued at $693,572.16. The trade was a 60.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $31.68, for a total transaction of $2,018,934.72. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $21,479,546.88. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,366,136 shares of company stock valued at $44,913,437. 13.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on CFLT shares. Royal Bank of Canada lifted their price objective on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Evercore ISI lifted their price target on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Mizuho boosted their target price on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC increased their target price on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price 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.