Strategic Vision Investment Ltd Takes Position in Confluent, Inc. (NASDAQ:CFLT)

Strategic Vision Investment Ltd bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 79,528 shares of the company’s stock, valued at approximately $1,861,000. Confluent comprises approximately 1.7% of Strategic Vision Investment Ltd’s holdings, making the stock its 8th biggest holding.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Confluent by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock worth $545,546,000 after purchasing an additional 2,125,843 shares during the last quarter. Altimeter Capital Management LP lifted its holdings in shares of Confluent by 11.5% during the first quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock worth $348,818,000 after buying an additional 1,496,443 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Confluent by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock valued at $300,320,000 after acquiring an additional 1,938,668 shares during the period. BlackRock Inc. grew its stake in shares of Confluent by 1.0% in the third quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after acquiring an additional 78,339 shares in the last quarter. Finally, Durable Capital Partners LP increased its position in Confluent by 6.8% during the first quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock worth $300,496,000 after acquiring an additional 465,214 shares during the period. Institutional investors own 78.09% of the company’s stock.

Confluent Trading Down 0.8 %

Shares of NASDAQ:CFLT traded down $0.24 during midday trading on Wednesday, hitting $28.31. 554,867 shares of the stock were exchanged, compared to its average volume of 4,998,066. The business’s 50-day moving average price is $31.48 and its 200 day moving average price is $26.41. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of -19.61 and a beta of 0.91.

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

Insider Buying and Selling

In related news, CMO Stephanie Buscemi sold 2,724 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $87,576.60. Following the completion of the transaction, the chief marketing officer now directly owns 109,002 shares of the company’s stock, valued at approximately $3,504,414.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the sale, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Stephanie Buscemi sold 2,724 shares of Confluent stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $87,576.60. Following the transaction, the chief marketing officer now directly owns 109,002 shares of the company’s stock, valued at approximately $3,504,414.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,433,170 shares of company stock valued at $46,438,029 over the last 90 days. 22.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. DA Davidson restated a “buy” rating and set a $37.00 price objective on shares of Confluent in a research note on Monday, April 1st. Needham & Company LLC upped their target price on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Royal Bank of Canada increased their target price on Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Finally, UBS Group boosted their price target on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

About Confluent

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.