Andar Capital Management HK Ltd Has $1.64 Million Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Andar Capital Management HK Ltd reduced its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 39.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company's stock after selling 45,000 shares during the period. Confluent makes up approximately 2.3% of Andar Capital Management HK Ltd's holdings, making the stock its 18th largest holding. Andar Capital Management HK Ltd's holdings in Confluent were worth $1,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFLT. Triumph Capital Management increased its holdings in shares of Confluent by 146.3% in the 4th quarter. Triumph Capital Management now owns 50,500 shares of the company's stock valued at $1,182,000 after acquiring an additional 30,000 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Confluent by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 561,497 shares of the company's stock valued at $13,139,000 after acquiring an additional 94,405 shares during the last quarter. Intellectus Partners LLC grew its stake in Confluent by 4.2% during the 4th quarter. Intellectus Partners LLC now owns 25,000 shares of the company's stock worth $585,000 after buying an additional 1,000 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Confluent by 7,051.6% during the 4th quarter. Russell Investments Group Ltd. now owns 259,101 shares of the company's stock worth $6,063,000 after buying an additional 255,478 shares during the last quarter. Finally, AlpInvest Partners B.V. grew its stake in Confluent by 1.4% during the 4th quarter. AlpInvest Partners B.V. now owns 460,210 shares of the company's stock worth $10,769,000 after buying an additional 6,170 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Stock Up 0.3 %

CFLT stock traded up $0.09 during mid-day trading on Wednesday, hitting $28.21. The stock had a trading volume of 2,313,250 shares, compared to its average volume of 4,821,136. 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 1-year low of $14.69 and a 1-year high of $41.22. The company has a fifty day moving average of $30.73 and a 200 day moving average of $26.30. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of -19.19 and a beta of 0.91.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $213.18 million during the quarter, compared to analyst estimates of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. On average, equities analysts expect that Confluent, Inc. will post -0.92 EPS for the current fiscal year.

Insider Transactions at Confluent

In other news, CAO Ying Christina Liu sold 4,109 shares of the company's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now owns 123,497 shares in the company, valued at approximately $3,970,428.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now owns 123,497 shares in the company, valued at approximately $3,970,428.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Chad Verbowski sold 5,963 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $191,710.45. Following the sale, the chief technology officer now owns 404,412 shares of the company's stock, valued at approximately $13,001,845.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CFLT. UBS Group upped their price objective on Confluent from $21.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, February 5th. Barclays upped their price objective on Confluent from $26.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on Confluent from $23.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, February 8th. Wells Fargo & Company boosted their price target on Confluent from $30.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, February 8th. Finally, Loop Capital began coverage on Confluent in a research report on Tuesday, January 30th. They set a "hold" rating and a $23.00 price target for the company. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.64.

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.