Valliance Asset Management Ltd Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Valliance Asset Management Ltd purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 135,000 shares of the company’s stock, valued at approximately $3,775,000. Confluent accounts for approximately 6.8% of Valliance Asset Management Ltd’s holdings, making the stock its 3rd largest holding.

Several other institutional investors also recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC increased its holdings 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 valued at $218,083,000 after purchasing an additional 4,486,841 shares during the period. Geode Capital Management LLC increased its holdings in shares of Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares during the period. Atreides Management LP increased its holdings in shares of Confluent by 7.3% in the third quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock valued at $55,167,000 after purchasing an additional 184,865 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Confluent by 46.9% in the third 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after purchasing an additional 64,926 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 6,346 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the transaction, the chief accounting officer now owns 179,593 shares in the company, valued at approximately $6,504,858.46. The trade was a 3.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now directly owns 678,016 shares in the company, valued at $21,425,305.60. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,140,614 shares of company stock worth $38,017,784 in the last 90 days. 13.82% of the stock is currently owned by company insiders.

Confluent Price Performance

CFLT stock opened at $31.01 on Friday. The company has a market capitalization of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. The stock’s 50 day moving average is $29.86 and its two-hundred day moving average is $25.97. 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, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CFLT. JPMorgan Chase & Co. boosted their target price on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Truist Financial upped their price objective on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Citigroup upped their price objective on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.