Rakuten Securities Inc. Acquires 3,186 Shares of Confluent, Inc. (NASDAQ:CFLT)

Rakuten Securities Inc. grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 77.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,286 shares of the company’s stock after purchasing an additional 3,186 shares during the period. Rakuten Securities Inc.’s holdings in Confluent were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Champlain Investment Partners LLC lifted its stake in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock valued at $51,224,000 after purchasing an additional 802,353 shares during the period. Great Lakes Advisors LLC bought a new position in Confluent during the 4th quarter worth approximately $20,061,000. Savant Capital LLC acquired a new position in shares of Confluent in the 4th quarter worth approximately $10,607,000. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Confluent in the 3rd quarter valued at $7,646,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Activity

In other Confluent news, CAO Kong Phan sold 12,460 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.30, for a total value of $389,998.00. Following the completion of the transaction, the chief accounting officer now owns 183,886 shares in the company, valued at $5,755,631.80. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lara Caimi sold 34,500 shares of Confluent stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $31.32, for a total value of $1,080,540.00. Following the completion of the transaction, the director now owns 7,160 shares of the company’s stock, valued at $224,251.20. The trade was a 82.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,248,478 shares of company stock valued at $40,003,844 in the last quarter. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CFLT shares. Loop Capital lowered their price objective on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company upped their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays boosted their target price on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Evercore ISI increased their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Stock Up 4.5 %

Shares of CFLT opened at $25.50 on Wednesday. The stock has a 50 day moving average price of $29.80 and a 200 day moving average price of $26.71. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of -23.61 and a beta of 0.89. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

About Confluent

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.