SWS Partners Increases Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

SWS Partners raised its holdings in Confluent, Inc. (NASDAQ:CFLT) by 37.0% in the fourth quarter, according to the company in its most recent disclosure 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 reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings 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 acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Confluent during the 4th quarter valued at approximately $59,000. GAMMA Investing LLC raised its holdings in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the third quarter worth $68,000. Finally, IFP Advisors Inc grew its holdings in shares of Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock valued at $138,000 after buying an additional 1,613 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Price Performance

Shares of Confluent stock opened at $29.77 on Tuesday. The stock has a market capitalization of $9.94 billion, a P/E ratio of -27.56 and a beta of 0.92. The business has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $26.45. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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 net margin of 35.81% and a negative return on equity of 34.70%. As a group, analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity

In other Confluent news, Director Jonathan Chadwick sold 34,375 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $30.57, for a total value of $1,050,843.75. Following the completion of the sale, the director now directly owns 22,688 shares in the company, valued at $693,572.16. This represents a 60.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Craig Miller sold 53,512 shares of the firm’s stock in a transaction 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 sold 1,366,136 shares of company stock worth $44,913,437 over the last three months. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of research analyst reports. Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their target price on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Needham & Company LLC increased their price target on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Mizuho lifted their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.15.

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.