98,116 Shares in Confluent, Inc. (NASDAQ:CFLT) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 98,116 shares of the company's stock, valued at approximately $2,296,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new position in shares of Confluent during the 1st quarter valued at approximately $30,000. Geneos Wealth Management Inc. bought a new stake in Confluent during the first quarter worth about $43,000. UniSuper Management Pty Ltd purchased a new position in Confluent in the third quarter worth about $36,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Confluent during the first quarter valued at approximately $42,000. Finally, Penserra Capital Management LLC raised its position in shares of Confluent by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,926 shares of the company's stock valued at $78,000 after purchasing an additional 642 shares during the period. Institutional investors and hedge funds own 78.09% of the company's stock.

Wall Street Analyst Weigh In

CFLT has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Confluent from $23.00 to $27.00 and gave the company a "neutral" rating in a research report on Thursday, February 8th. Wells Fargo & Company increased their price objective on shares of Confluent from $30.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. Mizuho decreased their price target on shares of Confluent from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Monday. The Goldman Sachs Group raised their price objective on shares of Confluent from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. Finally, JMP Securities boosted their price target on Confluent from $25.00 to $38.00 and gave the stock a "market outperform" rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.64.

Insider Activity at Confluent

In other news, CAO Ying Christina Liu sold 4,109 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the sale, the chief accounting officer now owns 123,497 shares of the company's stock, valued at approximately $3,970,428.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Confluent news, Director Michelangelo Volpi sold 637,268 shares of Confluent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total value of $20,220,513.64. Following the completion of the transaction, the director now directly owns 302,306 shares of the company's stock, valued at approximately $9,592,169.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Ying Christina Liu sold 4,109 shares of Confluent stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the transaction, the chief accounting officer now directly owns 123,497 shares of the company's stock, valued at $3,970,428.55. The disclosure for this sale can be found here. Insiders sold 1,433,170 shares of company stock valued at $46,438,029 in the last three months. 22.08% of the stock is owned by insiders.

Confluent Stock Performance

NASDAQ CFLT traded down $0.52 during trading hours on Friday, hitting $26.89. 3,187,227 shares of the company's stock traded hands, compared to its average volume of 4,960,277. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $41.22. The firm has a market capitalization of $8.41 billion, a P/E ratio of -18.29 and a beta of 0.91. The business's fifty day moving average price is $31.35 and its two-hundred day moving average price is $26.41.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The firm had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. Equities research analysts predict that Confluent, Inc. will post -0.92 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.