Valliance Asset Management Ltd Invests $3.78 Million in Confluent, Inc. (NASDAQ:CFLT)

Valliance Asset Management Ltd acquired a new position in Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 135,000 shares of the company’s stock, valued at approximately $3,775,000. Confluent makes up 6.8% of Valliance Asset Management Ltd’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of CFLT. Champlain Investment Partners LLC raised its position in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the period. Geode Capital Management LLC raised its position in shares of Confluent by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after purchasing an additional 107,510 shares during the period. Atreides Management LP raised its position in shares of Confluent by 7.3% during the third quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after purchasing an additional 184,865 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after purchasing an additional 802,353 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after purchasing an additional 64,926 shares during the period. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling

In related news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $31.21, for a total transaction of $1,988,982.09. Following the sale, the insider now owns 678,016 shares of the company’s stock, valued at approximately $21,160,879.36. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kong Phan sold 3,947 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,171,446.86. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,140,614 shares of company stock valued at $38,017,784. 13.82% of the stock is owned by company insiders.

Confluent Stock Performance

CFLT stock opened at $31.01 on Friday. The business’s fifty day moving average is $29.86 and its 200-day moving average is $25.97. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The company has a market cap of $10.17 billion, a P/E ratio of -28.71 and a beta of 0.92. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

Confluent (NASDAQ:CFLT) last issued 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 return on equity of 34.70% and a negative net margin of 35.81%. Equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their target price on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their target price on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Scotiabank boosted their target price on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, TD Cowen boosted their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.