Stifel Financial Corp Has $842,000 Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Stifel Financial Corp lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 112.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,339 shares of the company's stock after purchasing an additional 21,864 shares during the quarter. Stifel Financial Corp's holdings in Confluent were worth $842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC increased its stake in Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock worth $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company's stock valued at $224,933,000 after buying an additional 1,684,100 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Confluent during the second quarter worth $193,403,000. Bank of New York Mellon Corp raised its holdings in shares of Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company's stock worth $103,665,000 after acquiring an additional 1,316,804 shares during the period. Finally, Atreides Management LP lifted its position in Confluent by 7.3% in the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company's stock valued at $55,167,000 after acquiring an additional 184,865 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of research reports. Citigroup increased their target price on Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Evercore ISI decreased their price objective on Confluent from $33.00 to $28.00 and set an "outperform" rating for the company in a report on Friday, September 20th. Barclays lifted their target price on Confluent from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Wells Fargo & Company upped their price target on Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, Mizuho lifted their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Confluent currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.23.

Confluent Stock Performance

Shares of Confluent stock traded up $0.06 on Wednesday, hitting $30.01. The stock had a trading volume of 948,262 shares, compared to its average volume of 4,332,358. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of -27.04 and a beta of 0.88. The business's 50 day moving average is $28.23 and its two-hundred day moving average is $24.88. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Analysts forecast that Confluent, Inc. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.29, for a total value of $6,809,925.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company's stock, valued at $13,253,373.52. 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 through this link. Also, CAO Kong Phan sold 2,096 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the sale, the chief accounting officer now directly owns 190,680 shares of the company's stock, valued at $5,382,896.40. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,584,712 shares of company stock worth $132,928,936 in the last quarter. 13.82% of the stock is currently owned by corporate insiders.

Confluent 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.