Tairen Capital Ltd Has $2.04 Million Holdings in Confluent, Inc. (NASDAQ:CFLT)

Tairen Capital Ltd boosted its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 45.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 72,798 shares of the company's stock after buying an additional 22,798 shares during the period. Tairen Capital Ltd's holdings in Confluent were worth $2,035,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Credit Industriel ET Commercial purchased a new stake in shares of Confluent during the fourth quarter valued at approximately $28,000. Blue Trust Inc. raised its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Confluent during the fourth quarter valued at approximately $59,000. AlphaQuest LLC raised its stake in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock valued at $99,000 after purchasing an additional 3,538 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of Confluent by 48.4% during the fourth 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. Hedge funds and other institutional investors own 78.09% of the company's stock.

Confluent Stock Performance

CFLT stock traded down $0.05 during mid-day trading on Friday, reaching $21.84. The company had a trading volume of 3,483,236 shares, compared to its average volume of 4,800,758. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $7.43 billion, a P/E ratio of -20.22 and a beta of 1.02. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The stock's 50-day simple moving average is $22.47 and its two-hundred day simple moving average is $27.20.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating 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 business had revenue of $271.12 million for the quarter, compared to analysts' expectations of $264.45 million. During the same period in the previous year, the business earned $0.05 earnings per share. The company's revenue was up 24.8% on a year-over-year basis. Research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Activity at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $29.36, for a total value of $6,826,200.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $13,285,047.68. The trade was a 33.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 1,890 shares of the business's 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 completion of the sale, the chief accounting officer now owns 244,626 shares in the company, valued at approximately $5,340,185.58. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 736,028 shares of company stock worth $19,977,382 over the last ninety days. 13.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CFLT shares. Canaccord Genuity Group dropped their price objective on shares of Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. TD Securities decreased their price target on shares of Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Loop Capital decreased their price target on shares of Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Scotiabank decreased their price target on shares of Confluent from $35.00 to $24.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on shares of Confluent from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $30.11.

Confluent 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.