Cache Advisors LLC Invests $1.32 Million in Confluent, Inc. (NASDAQ:CFLT)

Cache Advisors LLC acquired a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 47,273 shares of the company's stock, valued at approximately $1,322,000.

A number of other institutional investors have also added to or reduced their stakes in CFLT. Credit Industriel ET Commercial bought a new position in shares of Confluent during the 4th quarter valued at approximately $28,000. Blue Trust Inc. boosted its position in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Confluent during the 4th quarter valued at approximately $59,000. AlphaQuest LLC boosted its position in shares of Confluent by 22,112.5% during the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock valued at $99,000 after acquiring an additional 3,538 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Confluent by 48.4% during the 4th 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 owned by hedge funds and other institutional investors.

Insider Buying and Selling at Confluent

In related news, CAO Kong Phan sold 1,890 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $21.83, for a total transaction of $41,258.70. Following the transaction, the chief accounting officer now directly owns 244,626 shares in the company, valued at approximately $5,340,185.58. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $29.47, for a total value of $1,878,093.63. Following the transaction, the insider now owns 502,424 shares in the company, valued at $14,806,435.28. This trade represents a 11.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 584,884 shares of company stock worth $15,388,207. 9.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of research reports. Raymond James assumed coverage on Confluent in a research report on Friday, April 11th. They set an "outperform" rating and a $30.00 target price for the company. JMP Securities cut their price target on Confluent from $40.00 to $36.00 and set a "market outperform" rating on the stock in a research note on Thursday, May 1st. TD Securities reduced their target price on shares of Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, May 1st. DA Davidson cut their price target on shares of Confluent from $42.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Oppenheimer cut their price target on shares of Confluent from $35.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $30.11.

Confluent Stock Up 4.2%

CFLT stock traded up $0.91 during trading on Tuesday, hitting $22.75. 7,312,346 shares of the company's stock were exchanged, compared to its average volume of 4,810,853. The business has a 50-day moving average price of $22.37 and a two-hundred day moving average price of $27.16. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -21.06 and a beta of 1.02. Confluent, Inc. has a 52-week low of $17.79 and a 52-week 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.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The firm had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm's revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

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.