Andar Capital Management HK Ltd Cuts Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Andar Capital Management HK Ltd trimmed its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 39.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,000 shares of the company’s stock after selling 45,000 shares during the period. Confluent accounts for 2.3% of Andar Capital Management HK Ltd’s portfolio, making the stock its 18th largest holding. Andar Capital Management HK Ltd’s holdings in Confluent were worth $1,638,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CFLT. Vanguard Group Inc. grew its stake in Confluent by 13.0% during the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after acquiring an additional 2,125,843 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Confluent in the 4th quarter worth $29,833,000. Charles Schwab Investment Management Inc. grew its stake in shares of Confluent by 82.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,826,876 shares of the company’s stock worth $54,094,000 after buying an additional 824,436 shares in the last quarter. Swiss National Bank purchased a new position in shares of Confluent in the 3rd quarter worth $15,590,000. Finally, Invesco Ltd. grew its stake in shares of Confluent by 14.0% in the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock worth $113,230,000 after buying an additional 470,002 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on CFLT shares. Loop Capital initiated coverage on shares of Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price on the stock. Needham & Company LLC lifted their price objective on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Scotiabank upped their price objective on shares of Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, February 8th. Royal Bank of Canada upped their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Mizuho reduced their target price on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.64.

Confluent Trading Up 2.9 %

Shares of CFLT stock traded up $0.81 on Wednesday, reaching $28.93. 1,689,392 shares of the stock were exchanged, compared to its average volume of 4,811,864. The stock has a market cap of $9.04 billion, a PE ratio of -19.19 and a beta of 0.91. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62. The stock has a 50 day moving average price of $30.73 and a 200 day moving average price of $26.30.

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

Insider Buying and Selling

In related news, CTO Chad Verbowski sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total transaction of $252,283.20. Following the transaction, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CTO Chad Verbowski sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total transaction of $252,283.20. Following the transaction, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now directly owns 479,537 shares in the company, valued at $15,225,299.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by company insiders.

Confluent Company 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.