Charles Schwab Investment Management Inc. Buys 64,926 Shares of Confluent, Inc. (NASDAQ:CFLT)

Charles Schwab Investment Management Inc. lifted its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,284,037 shares of the company's stock after purchasing an additional 64,926 shares during the period. Charles Schwab Investment Management Inc. owned about 0.70% of Confluent worth $46,549,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Confluent in the second quarter valued at $68,000. Acadian Asset Management LLC purchased a new position in shares of Confluent in the 2nd quarter worth about $175,000. Plato Investment Management Ltd raised its position in Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company's stock worth $195,000 after buying an additional 6,312 shares during the last quarter. Centaurus Financial Inc. raised its position in Confluent by 109.2% in the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company's stock worth $216,000 after buying an additional 3,821 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in shares of Confluent during the 2nd quarter valued at about $238,000. Institutional investors own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent analyst reports. Baird R W upgraded Confluent to a "hold" rating in a research note on Wednesday, September 4th. Evercore ISI decreased their target price on Confluent from $33.00 to $28.00 and set an "outperform" rating for the company in a research report on Friday, September 20th. TD Cowen raised their price target on Confluent from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Barclays lifted their target price on Confluent from $29.00 to $32.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their price target on Confluent from $23.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Insider Activity

In other news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at approximately $9,045,235.12. This represents a 33.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the sale, the chief technology officer now directly owns 483,393 shares in the company, valued at approximately $13,646,184.39. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,237,879 shares of company stock valued at $118,823,850 in the last quarter. Company insiders own 13.82% of the company's stock.

Confluent Stock Up 0.5 %

Confluent stock traded up $0.16 during mid-day trading on Monday, hitting $31.00. 2,582,681 shares of the company's stock were exchanged, compared to its average volume of 4,373,564. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The stock has a market cap of $10.17 billion, a P/E ratio of -28.01 and a beta of 0.82. The stock has a 50 day moving average of $24.40 and a two-hundred day moving average of $24.59. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

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.