330,000 Shares in Confluent, Inc. (NASDAQ:CFLT) Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. bought a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 330,000 shares of the company’s stock, valued at approximately $9,227,000. Nomura Asset Management Co. Ltd. owned approximately 0.10% of Confluent as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during 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 period. SBI Securities Co. Ltd. purchased a new position in Confluent during the 4th quarter valued at about $59,000. GAMMA Investing LLC raised its holdings in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent in the 3rd quarter worth approximately $68,000. Finally, AlphaQuest LLC boosted its stake in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after purchasing an additional 3,538 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Kong Phan sold 6,346 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $229,852.12. Following the completion of the sale, the chief accounting officer now directly owns 179,593 shares in the company, valued at $6,504,858.46. The trade was a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 452,488 shares in the company, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,200,746 shares of company stock worth $38,505,150. Company insiders own 13.82% of the company’s stock.

Confluent Stock Down 3.7 %

Confluent stock opened at $23.44 on Tuesday. The business’s 50-day moving average price is $29.29 and its 200 day moving average price is $27.28. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of -21.70 and a beta of 0.90. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler upped their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Truist Financial dropped their price objective on Confluent from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $38.00 in a report on Wednesday, February 26th. Finally, William Blair reiterated an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

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.