Values First Advisors Inc. Takes Position in Confluent, Inc. (NASDAQ:CFLT)

Values First Advisors Inc. bought a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,807 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors have also modified their holdings of CFLT. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent in the fourth quarter valued at about $59,000. Charles Schwab Investment Management Inc. boosted its position in Confluent by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company's stock worth $65,860,000 after acquiring an additional 71,454 shares during the last quarter. Victory Capital Management Inc. boosted its position in Confluent by 135.7% during the fourth quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after acquiring an additional 373,682 shares during the last quarter. Assetmark Inc. boosted its position in Confluent by 4.3% during the fourth quarter. Assetmark Inc. now owns 38,500 shares of the company's stock worth $1,076,000 after acquiring an additional 1,575 shares during the last quarter. Finally, Atria Investments Inc acquired a new position in Confluent during the fourth quarter worth about $347,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Price Performance

Shares of CFLT opened at $25.82 on Tuesday. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm's 50 day moving average price is $23.15 and its 200 day moving average price is $25.85. The company has a market cap of $8.79 billion, a P/E ratio of -26.35 and a beta of 0.99. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07.

Confluent (NASDAQ:CFLT - Get Free Report) last announced 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 net margin of 31.42% and a negative return on equity of 29.92%. The firm had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $24.50, for a total transaction of $5,696,250.00. Following the completion of the transaction, the chief executive officer owned 452,488 shares in the company, valued at $11,085,956. The trade was a 33.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kong Phan sold 3,575 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $83,976.75. Following the transaction, the chief accounting officer owned 239,742 shares of the company's stock, valued at $5,631,539.58. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 546,669 shares of company stock worth $12,637,193 over the last 90 days. Company insiders own 9.20% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CFLT. Morgan Stanley lowered their price target on shares of Confluent from $32.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their price target on shares of Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group lowered their price target on shares of Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reduced their target price on shares of Confluent from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital reduced their target price on shares of Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.11.

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.

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