Atria Investments Inc Makes New $347,000 Investment in Confluent, Inc. (NASDAQ:CFLT)

Atria Investments Inc bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,416 shares of the company’s stock, valued at approximately $347,000.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent during the 4th quarter worth approximately $59,000. GAMMA Investing LLC raised its position in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Point72 Hong Kong Ltd acquired a new position in Confluent in the third quarter valued at approximately $68,000. Finally, IFP Advisors Inc lifted its holdings in Confluent by 48.4% in the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock valued at $138,000 after acquiring an additional 1,613 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Trading Up 2.2 %

Shares of Confluent stock opened at $26.36 on Monday. The company has a 50-day moving average of $29.66 and a two-hundred day moving average of $26.82. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a market cap of $8.80 billion, a PE ratio of -24.41 and a beta of 0.90.

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 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 anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity at Confluent

In related news, CAO Kong Phan sold 3,947 shares of the firm’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 value of $113,436.78. Following 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 trade represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,201,518 shares of company stock valued at $38,533,306. Company insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CFLT. Royal Bank of Canada raised 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. Loop Capital dropped their price target on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Morgan Stanley increased their price objective on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. UBS Group raised Confluent from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $38.00 in a research report on Wednesday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Confluent in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Company 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.