Atria Investments Inc Invests $347,000 in Confluent, Inc. (NASDAQ:CFLT)

Atria Investments Inc purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,416 shares of the company’s stock, valued at approximately $347,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFLT. Blue Trust Inc. boosted its position in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent in the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent during the 3rd quarter valued at approximately $68,000. GAMMA Investing LLC increased its holdings in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Confluent by 48.4% during the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock worth $138,000 after purchasing an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

Shares of CFLT opened at $26.36 on Monday. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of -24.41 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The business’s 50-day moving average is $29.66 and its 200-day moving average is $26.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

Confluent (NASDAQ:CFLT) last posted 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 34.70%. Equities research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $13,285,047.68. The trade was a 33.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,201,518 shares of company stock worth $38,533,306 over the last 90 days. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent analyst reports. Guggenheim raised their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. William Blair restated an “outperform” rating on shares of Confluent in a research note on Friday, March 7th. Truist Financial boosted their price target on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Mizuho upped their price target on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

About Confluent

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.