Rakuten Securities Inc. Takes Position in Confluent, Inc. (NASDAQ:CFLT)

Rakuten Securities Inc. purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,306 shares of the company’s stock, valued at approximately $31,000.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Confluent in the 1st quarter valued at $30,000. UniSuper Management Pty Ltd bought a new position in Confluent during the 3rd quarter worth $36,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Confluent during the 1st quarter worth $42,000. Geneos Wealth Management Inc. bought a new position in Confluent during the 1st quarter worth $43,000. Finally, American International Group Inc. bought a new position in Confluent during the 2nd quarter worth $45,000. 78.09% of the stock is currently owned by institutional investors.

Insider Activity at Confluent

In related news, 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 transaction, the insider now owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, 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 transaction, the insider now owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ying Christina Liu sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the transaction, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by corporate insiders.

Confluent Price Performance

Shares of CFLT opened at $27.41 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. The stock has a 50-day moving average of $31.45 and a 200-day moving average of $26.43. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The firm had revenue of $213.18 million during the quarter, compared to analyst estimates of $204.62 million. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CFLT shares. Mizuho lowered their target price on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank raised their target price on Confluent from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th. Wells Fargo & Company raised their target price on Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Loop Capital started coverage on Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. increased their price target on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

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.