Advisory Resource Group Purchases Shares of 7,889 Confluent, Inc. (NASDAQ:CFLT)

Advisory Resource Group purchased a new stake in Confluent, Inc. (NASDAQ:CFLT – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,889 shares of the company’s stock, valued at approximately $516,000.

A number of other large investors have also bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of Confluent during the 4th quarter worth about $29,000. Captrust Financial Advisors purchased a new stake in shares of Confluent during the 3rd quarter worth about $30,000. Regency Capital Management Inc. DE purchased a new stake in shares of Confluent during the 3rd quarter worth about $39,000. Atticus Wealth Management LLC purchased a new stake in shares of Confluent during the 3rd quarter worth about $60,000. Finally, James Investment Research Inc. purchased a new stake in shares of Confluent during the 4th quarter worth about $62,000. 22.14% of the stock is currently owned by institutional investors.

CFLT stock traded down $3.09 during mid-day trading on Friday, reaching $31.24. The company’s stock had a trading volume of 2,289,037 shares, compared to its average volume of 1,770,263. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $38.12 and its two-hundred day moving average is $58.60. Confluent, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $94.97.

Confluent (NASDAQ:CFLT – Get Rating) last released its earnings results on Thursday, February 10th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.02. The business had revenue of $119.90 million for the quarter, compared to analyst estimates of $109.80 million. Confluent had a negative return on equity of 51.90% and a negative net margin of 88.38%. The company’s revenue for the quarter was up 70.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. As a group, analysts forecast that Confluent, Inc. will post -1.57 earnings per share for the current fiscal year.

CFLT has been the topic of several recent analyst reports. DA Davidson raised shares of Confluent from a “neutral” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, January 25th. They noted that the move was a valuation call. Credit Suisse Group reduced their price target on shares of Confluent from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, February 11th. The Goldman Sachs Group reduced their price target on shares of Confluent from $75.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, April 14th. Barclays reduced their price target on shares of Confluent from $71.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 19th. Finally, Wells Fargo & Company reduced their price target on shares of Confluent from $75.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Confluent has a consensus rating of “Hold” and an average target price of $65.96.

In other Confluent news, major shareholder Brad Gerstner acquired 61,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were purchased at an average price of $32.43 per share, with a total value of $2,000,931.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $44.41, for a total value of $10,325,325.00. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 774,583 shares of company stock worth $29,211,858 and have sold 634,025 shares worth $27,704,768.

Confluent Company Profile (Get Rating)

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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