Strategic Vision Investment Ltd Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Strategic Vision Investment Ltd bought a new stake in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 79,528 shares of the company’s stock, valued at approximately $1,861,000. Confluent makes up approximately 1.7% of Strategic Vision Investment Ltd’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of CFLT. Sumitomo Mitsui Trust Holdings Inc. raised its position in Confluent by 5.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 360,754 shares of the company’s stock valued at $8,442,000 after buying an additional 19,054 shares during the period. Perigon Wealth Management LLC acquired a new position in shares of Confluent in the 4th quarter valued at about $497,000. Tobam purchased a new stake in shares of Confluent in the fourth quarter worth approximately $4,195,000. LA Financiere DE L Echiquier boosted its holdings in shares of Confluent by 40.7% during the fourth quarter. LA Financiere DE L Echiquier now owns 785,200 shares of the company’s stock worth $18,374,000 after purchasing an additional 227,200 shares during the period. Finally, Zweig DiMenna Associates LLC purchased a new position in Confluent during the fourth quarter valued at approximately $2,340,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Performance

CFLT traded down $0.24 during midday trading on Wednesday, reaching $28.31. The company’s stock had a trading volume of 554,867 shares, compared to its average volume of 4,998,066. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $41.22. The stock has a market cap of $8.85 billion, a P/E ratio of -19.61 and a beta of 0.91. The company has a fifty day simple moving average of $31.48 and a 200 day simple moving average of $26.41. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34.

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

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of research reports. Scotiabank lifted their target price on shares of Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Loop Capital assumed coverage on Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price objective for the company. Mizuho dropped their target price on Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday. JPMorgan Chase & Co. raised their price target on Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Company boosted their price target on Confluent from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and an average target price of $30.64.

Insider Transactions at Confluent

In related news, insider Erica Schultz sold 63,729 shares of the 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 completion of the sale, the insider now owns 479,537 shares in the company, valued at $15,225,299.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available at this link. Also, CTO Chad Verbowski sold 5,963 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $191,710.45. Following the completion of the transaction, the chief technology officer now owns 404,412 shares of the company’s stock, valued at approximately $13,001,845.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is currently owned by company insiders.

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.