Tairen Capital Ltd Increases Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Tairen Capital Ltd lifted its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 45.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,798 shares of the company's stock after purchasing an additional 22,798 shares during the quarter. Tairen Capital Ltd's holdings in Confluent were worth $2,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Credit Industriel ET Commercial acquired a new stake in Confluent during the fourth quarter worth about $28,000. Blue Trust Inc. boosted its position in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent during the 4th quarter worth approximately $59,000. AlphaQuest LLC increased its holdings 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 purchasing an additional 3,538 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Confluent by 48.4% in the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock valued at $138,000 after purchasing an additional 1,613 shares during the period. Institutional investors and hedge funds own 78.09% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CFLT. Truist Financial dropped their price target on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley cut their price target on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Oppenheimer reduced their price target on Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Raymond James started coverage on shares of Confluent in a research report on Friday, April 11th. They set an "outperform" rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus decreased their price target on shares of Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a research note 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 given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.11.

Insider Buying and Selling at Confluent

In other news, insider Erica Schultz sold 126,730 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40. Following the sale, the insider now directly owns 552,424 shares in the company, valued at approximately $17,445,549.92. This trade represents a 18.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neha Narkhede sold 60,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $19.96, for a total value of $1,197,600.00. Following the sale, the director now owns 20,247 shares in the company, valued at approximately $404,130.12. This trade represents a 74.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,541 shares of company stock valued at $24,793,743 in the last 90 days. Company insiders own 13.82% of the company's stock.

Confluent Trading Up 4.0%

Shares of CFLT stock traded up $0.84 on Thursday, hitting $21.89. The stock had a trading volume of 6,065,479 shares, compared to its average volume of 4,787,744. The company's 50 day moving average price is $22.67 and its 200-day moving average price is $27.26. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market capitalization of $7.45 billion, a P/E ratio of -20.27 and a beta of 1.02.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same period in the prior year, the firm earned $0.05 earnings per share. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts anticipate that Confluent, Inc. will post -0.83 earnings per share 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.