Landscape Capital Management L.L.C. Acquires New Stake in Confluent, Inc. (NASDAQ:CFLT)

Landscape Capital Management L.L.C. purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,378 shares of the company's stock, valued at approximately $1,409,000.

Several other hedge funds and other institutional investors have also modified their holdings of CFLT. Cerity Partners LLC grew its holdings in shares of Confluent by 28.1% in the third quarter. Cerity Partners LLC now owns 35,129 shares of the company's stock valued at $716,000 after purchasing an additional 7,705 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Confluent by 52.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,907 shares of the company's stock worth $874,000 after acquiring an additional 14,725 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Confluent in the third quarter valued at $303,000. Janus Henderson Group PLC boosted its holdings in Confluent by 873.2% in the third quarter. Janus Henderson Group PLC now owns 102,600 shares of the company's stock valued at $2,092,000 after purchasing an additional 92,058 shares during the period. Finally, Stifel Financial Corp grew its stake in Confluent by 112.3% during the 3rd quarter. Stifel Financial Corp now owns 41,339 shares of the company's stock worth $842,000 after purchasing an additional 21,864 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at $13,285,047.68. The trade was a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kong Phan sold 3,175 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the completion of the sale, the chief accounting officer now directly owns 246,516 shares in the company, valued at approximately $6,621,419.76. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,200,746 shares of company stock worth $38,505,150. 13.82% of the stock is owned by company insiders.

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Confluent Trading Down 8.2 %

Shares of NASDAQ:CFLT traded down $1.88 during trading on Thursday, reaching $20.98. The stock had a trading volume of 1,745,397 shares, compared to its average volume of 5,818,749. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The business has a fifty day moving average price of $27.94 and a 200-day moving average price of $27.26. The stock has a market cap of $7.01 billion, a P/E ratio of -19.43 and a beta of 1.03. 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 - Get Free Report) last released its 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%. As a group, analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the subject of several analyst reports. Barclays upped their price objective on Confluent from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 target price on shares of Confluent in a report on Friday, March 7th. Mizuho upped their target price on Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price objective on Confluent from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.15.

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.