Virtu Financial LLC Invests $579,000 in Confluent, Inc. (NASDAQ:CFLT)

Virtu Financial LLC purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,697 shares of the company’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the period. Atreides Management LP increased its holdings in Confluent by 7.3% in the 3rd 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 in the last quarter. Jacobs Levy Equity Management Inc. raised its position in 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. Charles Schwab Investment Management Inc. lifted its stake in shares of Confluent by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company’s stock worth $65,860,000 after purchasing an additional 71,454 shares in the last quarter. Finally, LBP AM SA boosted its position in shares of Confluent by 17.5% in the fourth quarter. LBP AM SA now owns 1,176,200 shares of the company’s stock worth $32,887,000 after buying an additional 175,000 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Confluent in a research note on Friday, March 7th. UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $38.00 in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus raised their price objective on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now owns 246,516 shares of the company’s stock, valued at $6,621,419.76. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at $14,628,937.04. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. Corporate insiders own 13.82% of the company’s stock.

Confluent Stock Performance

Shares of CFLT opened at $26.89 on Wednesday. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The firm has a market capitalization of $8.98 billion, a PE ratio of -24.90 and a beta of 0.90. The firm has a 50-day moving average price of $29.46 and a 200 day moving average price of $27.13. 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 (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.