Y Intercept Hong Kong Ltd Makes New $634,000 Investment in Confluent, Inc. (NASDAQ:CFLT)

Y Intercept Hong Kong Ltd acquired a new stake in Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,120 shares of the company’s stock, valued at approximately $634,000.

Other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new position in Confluent in the 3rd quarter worth approximately $68,000. Acadian Asset Management LLC purchased a new position in shares of Confluent during the second quarter worth $175,000. Plato Investment Management Ltd lifted its position in Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after purchasing an additional 6,312 shares during the period. Centaurus Financial Inc. boosted its holdings in Confluent by 109.2% in the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Confluent during the 2nd quarter worth about $238,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Price Performance

CFLT stock opened at $30.49 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm has a market capitalization of $10.00 billion, a PE ratio of -27.47 and a beta of 0.88. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The business has a 50 day simple moving average of $26.86 and a 200-day simple moving average of $24.69.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on CFLT. Scotiabank upped their target price on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. TD Cowen boosted their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group raised their price target on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.04.

Insiders Place Their Bets

In other news, Director Michelangelo Volpi sold 50,000 shares of Confluent stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the sale, the director now owns 280,200 shares of the company’s stock, valued at approximately $7,262,784. The trade was a 15.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Craig Miller sold 53,512 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $33.64, for a total value of $1,800,143.68. The disclosure for this sale can be found here. Insiders have sold 4,533,995 shares of company stock valued at $131,348,784 over the last ninety days. Company insiders own 13.82% 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.