AlpInvest Partners B.V. Has $1.21 Million Position in Confluent, Inc. (NASDAQ:CFLT)

AlpInvest Partners B.V. lowered its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 73.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,325 shares of the company's stock after selling 121,871 shares during the quarter. Confluent comprises approximately 1.3% of AlpInvest Partners B.V.'s investment portfolio, making the stock its 9th biggest holding. AlpInvest Partners B.V.'s holdings in Confluent were worth $1,211,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Confluent by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock worth $323,000 after acquiring an additional 458 shares during the period. Truist Financial Corp increased its position in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after purchasing an additional 514 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Confluent by 0.5% in the 4th quarter. Sit Investment Associates Inc. now owns 124,623 shares of the company's stock worth $3,484,000 after buying an additional 680 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Confluent by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 108,859 shares of the company's stock valued at $3,044,000 after buying an additional 680 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after buying an additional 1,136 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Transactions at Confluent

In other news, insider Erica Schultz sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00. Following the sale, the insider now directly owns 678,016 shares in the company, valued at approximately $24,286,533.12. This represents a 18.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction on Thursday, March 20th. The shares were 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 represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,200,746 shares of company stock valued at $38,505,150. Company insiders own 13.82% of the company's stock.

Confluent Stock Down 1.7 %

Shares of CFLT traded down $0.36 during trading hours on Friday, hitting $21.15. 2,602,037 shares of the company were exchanged, compared to its average volume of 4,505,320. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market cap of $7.06 billion, a PE ratio of -19.58 and a beta of 1.03. The firm's 50 day moving average is $26.76 and its 200-day moving average is $27.29. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) 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%. On average, equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Truist Financial dropped their price target on Confluent from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Loop Capital cut their target price on Confluent from $34.00 to $30.00 and set a "hold" rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of Confluent in a research note on Friday, March 7th. Finally, Guggenheim raised their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $34.71.

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.