J.W. Cole Advisors Inc. Purchases New Shares in Confluent, Inc. (NASDAQ:CFLT)

J.W. Cole Advisors Inc. purchased a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,050 shares of the company’s stock, valued at approximately $281,000.

Other large investors also recently added to or reduced their stakes in the company. Legato Capital Management LLC acquired a new stake in shares of Confluent in the fourth quarter valued at about $724,000. Savant Capital LLC acquired a new stake in Confluent in the 4th quarter worth about $10,607,000. Exane Asset Management purchased a new stake in Confluent during the 4th quarter worth approximately $529,000. Lecap Asset Management Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at approximately $1,145,000. Finally, Stratos Wealth Advisors LLC purchased a new position in shares of Confluent in the fourth quarter valued at approximately $252,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at $5,171,446.86. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,140,614 shares of company stock valued at $38,017,784 in the last three months. 13.82% of the stock is owned by corporate insiders.

Confluent Stock Down 2.1 %

Shares of CFLT opened at $32.54 on Friday. The company’s 50-day simple moving average is $29.85 and its 200-day simple moving average is $25.84. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The stock has a market capitalization of $10.67 billion, a PE ratio of -30.13 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last issued its quarterly 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 net margin of 35.81% and a negative return on equity of 35.45%. Analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley increased their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Guggenheim raised their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI boosted their target price on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price target on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.