Wealth Enhancement Advisory Services LLC Purchases 54,204 Shares of Confluent, Inc. $CFLT

Wealth Enhancement Advisory Services LLC raised its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 53.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 155,184 shares of the company’s stock after acquiring an additional 54,204 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Confluent were worth $4,685,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. NorthCrest Asset Manangement LLC grew its position in Confluent by 432.3% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 54,136 shares of the company’s stock worth $1,632,000 after acquiring an additional 43,965 shares during the last quarter. GAMMA Investing LLC increased its holdings in Confluent by 94.9% during the 4th quarter. GAMMA Investing LLC now owns 2,422 shares of the company’s stock valued at $73,000 after purchasing an additional 1,179 shares in the last quarter. Allworth Financial LP raised its position in Confluent by 763.7% in the 3rd quarter. Allworth Financial LP now owns 4,042 shares of the company’s stock valued at $80,000 after purchasing an additional 3,574 shares during the last quarter. IFP Advisors Inc raised its position in Confluent by 53.3% in the 3rd quarter. IFP Advisors Inc now owns 7,221 shares of the company’s stock valued at $143,000 after purchasing an additional 2,510 shares during the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new position in Confluent in the third quarter worth $246,000. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Performance

CFLT opened at $30.99 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83. The company has a market cap of $11.08 billion, a price-to-earnings ratio of -36.03 and a beta of 0.95. The firm has a 50 day simple moving average of $30.69 and a 200 day simple moving average of $26.82. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $31.00.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The firm had revenue of $314.82 million for the quarter, compared to analysts’ expectations of $308.03 million. During the same period last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC lowered Confluent from a “buy” rating to a “hold” rating in a research note on Monday, December 8th. Robert W. Baird upped their price target on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Confluent in a report on Monday, December 29th. Piper Sandler downgraded shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Monday, December 8th. Finally, Evercore set a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.71.

Insider Buying and Selling

In other news, CFO Rohan Sivaram sold 29,996 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $30.67, for a total value of $919,977.32. Following the transaction, the chief financial officer directly owned 531,971 shares in the company, valued at $16,315,550.57. This trade represents a 5.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Vishria sold 61,905 shares of Confluent stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.57, for a total value of $1,892,435.85. Following the sale, the director directly owned 663,637 shares of the company’s stock, valued at approximately $20,287,383.09. This trade represents a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 525,929 shares of company stock worth $16,124,278 over the last 90 days. 9.20% of the stock is currently owned by corporate insiders.

Confluent Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.