Melqart Asset Management UK Ltd Invests $4.71 Million in Confluent, Inc. (NASDAQ:CFLT)

Melqart Asset Management UK Ltd bought a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 168,439 shares of the company's stock, valued at approximately $4,710,000. Melqart Asset Management UK Ltd owned 0.05% of Confluent as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Credit Industriel ET Commercial acquired a new position in Confluent during the 4th quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at $59,000. GAMMA Investing LLC grew its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Finally, AlphaQuest LLC grew its position in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after acquiring an additional 3,538 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $14,628,937.04. This represents a 33.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 3,175 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the completion of the transaction, the chief accounting officer now directly owns 246,516 shares in the company, valued at $6,621,419.76. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,200,746 shares of company stock valued at $38,505,150 in the last three months. Insiders own 13.82% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 research note on Thursday. Guggenheim reduced their price objective on Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday. Needham & Company LLC cut their target price on Confluent from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday. Barclays decreased their price target on Confluent from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Oppenheimer reduced their price objective on shares of Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.28.

Confluent Stock Up 2.5 %

NASDAQ:CFLT traded up $0.50 during trading hours on Friday, hitting $19.94. 9,228,838 shares of the company's stock traded hands, compared to its average volume of 4,672,863. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The firm has a market cap of $6.66 billion, a P/E ratio of -18.41 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock's fifty day moving average price is $24.66 and its two-hundred day moving average price is $27.40.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm's revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.