Mirae Asset Global Investments Co. Ltd. Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Mirae Asset Global Investments Co. Ltd. acquired a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 98,116 shares of the company’s stock, valued at approximately $2,296,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. raised its stake in Confluent by 14.0% in the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock worth $113,230,000 after purchasing an additional 470,002 shares in the last quarter. KADENSA CAPITAL Ltd acquired a new stake in Confluent in the 3rd quarter worth about $11,512,000. Tower Research Capital LLC TRC raised its stake in Confluent by 18,649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,187 shares of the company’s stock worth $361,000 after purchasing an additional 12,122 shares in the last quarter. Northern Trust Corp raised its stake in Confluent by 45.7% in the 3rd quarter. Northern Trust Corp now owns 1,044,896 shares of the company’s stock worth $30,939,000 after purchasing an additional 327,940 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Confluent by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after buying an additional 2,125,843 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson restated a “buy” rating and issued a $37.00 target price on shares of Confluent in a research report on Monday, April 1st. The Goldman Sachs Group boosted their target price on shares of Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Royal Bank of Canada boosted their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. JMP Securities boosted their target price on shares of Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Finally, Loop Capital assumed coverage on shares of Confluent in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

Confluent Trading Down 0.9 %

NASDAQ:CFLT opened at $27.41 on Friday. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of -18.65 and a beta of 0.91. The firm has a fifty day simple moving average of $31.45 and a two-hundred day simple moving average of $26.43.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. Analysts expect that Confluent, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Michelangelo Volpi sold 637,268 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total value of $20,220,513.64. Following the completion of the sale, the director now directly owns 302,306 shares in the company, valued at approximately $9,592,169.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michelangelo Volpi sold 637,268 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total value of $20,220,513.64. Following the completion of the sale, the director now directly owns 302,306 shares in the company, valued at approximately $9,592,169.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the sale, the insider now owns 479,537 shares of the company’s stock, valued at $15,225,299.75. The disclosure for this sale can be found here. Insiders sold a total of 1,433,170 shares of company stock worth $46,438,029 in the last three months. Company insiders own 22.08% 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.