CloudAlpha Capital Management Limited Hong Kong Invests $29.83 Million in Confluent, Inc. (NASDAQ:CFLT)

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,274,927 shares of the company’s stock, valued at approximately $29,833,000. Confluent makes up about 2.8% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 10th biggest position.

Several other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new position in shares of Confluent in the first quarter valued at about $30,000. Rakuten Securities Inc. bought a new position in shares of Confluent during the fourth quarter worth approximately $31,000. UniSuper Management Pty Ltd acquired a new stake in shares of Confluent in the third quarter valued at approximately $36,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Confluent in the first quarter valued at approximately $42,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Confluent during the 1st quarter worth $43,000. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Down 3.1 %

Confluent stock traded down $0.89 on Wednesday, hitting $27.66. 2,299,464 shares of the stock traded hands, compared to its average volume of 5,022,563. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The firm has a market cap of $8.65 billion, a P/E ratio of -19.61 and a beta of 0.91. The business’s fifty day simple moving average is $31.48 and its 200 day simple moving average is $26.41. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $41.22.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The business had revenue of $213.18 million for the quarter, compared to analysts’ expectations of $204.62 million. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Confluent news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the sale, the insider now owns 479,537 shares of the company’s stock, valued at $15,225,299.75. The disclosure for this sale can be found here. Insiders sold a total of 1,433,170 shares of company stock worth $46,438,029 in the last three months. Insiders own 22.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CFLT. Mizuho lowered their price objective on shares of Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Monday. Needham & Company LLC lifted their price objective on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays increased their price target on Confluent from $26.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Stifel Nicolaus began coverage on shares of Confluent in a research note on Wednesday, February 21st. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Scotiabank increased their target price on shares of Confluent from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

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.