OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 70,000 Shares of Confluent, Inc. (NASDAQ:CFLT)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 36.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,500 shares of the company's stock after purchasing an additional 70,000 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.08% of Confluent worth $7,340,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Confluent in the 4th quarter valued at about $203,000. Friedenthal Financial purchased a new position in Confluent during the 4th quarter worth approximately $758,000. Jackson Square Capital LLC acquired a new position in Confluent during the fourth quarter worth approximately $389,000. Finally, Inspire Investing LLC acquired a new stake in shares of Confluent in the fourth quarter valued at approximately $1,093,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Confluent Trading Down 0.8%

CFLT stock traded down $0.18 during mid-day trading on Friday, reaching $22.54. 3,414,374 shares of the stock traded hands, compared to its average volume of 4,751,943. The stock's fifty day moving average is $23.00 and its 200-day moving average is $27.34. The company has a market cap of $7.67 billion, a P/E ratio of -20.87 and a beta of 1.02. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

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

Analyst Ratings Changes

Several analysts recently commented on CFLT shares. Needham & Company LLC reduced their price target on shares of Confluent from $40.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI reduced their target price on shares of Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on Confluent from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Morgan Stanley reduced their price objective on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their target price on Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $30.11.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now owns 452,488 shares of the company's stock, valued at $14,628,937.04. The trade was a 33.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kong Phan sold 2,178 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the transaction, the chief accounting officer now directly owns 177,415 shares of the company's stock, valued at $5,602,765.70. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,011,050 shares of company stock worth $30,718,078. Corporate insiders own 9.20% of the company's stock.

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.