SWS Partners Grows Position in Confluent, Inc. (NASDAQ:CFLT)

SWS Partners boosted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 37.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,902 shares of the company’s stock after buying an additional 14,547 shares during the quarter. SWS Partners’ holdings in Confluent were worth $1,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CFLT. EP Wealth Advisors LLC raised its holdings in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the last quarter. Truist Financial Corp grew its position in Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after purchasing an additional 514 shares during the period. GAMMA Investing LLC raised its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% during the 4th 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. Finally, IFP Advisors Inc boosted its stake in shares of Confluent by 48.4% in the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock worth $138,000 after buying an additional 1,613 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

CFLT stock opened at $29.77 on Tuesday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The firm has a market capitalization of $9.94 billion, a P/E ratio of -27.56 and a beta of 0.92. The company has a fifty day simple moving average of $29.96 and a two-hundred day simple moving average of $26.45. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results 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 net margin of 35.81% and a negative return on equity of 34.70%. Analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on CFLT. JPMorgan Chase & Co. upped their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Needham & Company LLC increased their price objective on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI boosted their target price on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Mizuho upped their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $38.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.15.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 12,460 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00. Following the completion of the sale, the chief accounting officer now owns 183,886 shares in the company, valued at $5,755,631.80. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,366,136 shares of company stock worth $44,913,437. Company insiders own 13.82% of the company’s stock.

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.