Dynamic Technology Lab Private Ltd Takes Position in Confluent, Inc. (NASDAQ:CFLT)

Dynamic Technology Lab Private Ltd bought a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 124,401 shares of the company's stock, valued at approximately $2,535,000.

Other large investors have also recently modified their holdings of the company. Diversified Trust Co boosted its holdings in shares of Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company's stock valued at $1,233,000 after purchasing an additional 31,729 shares in the last quarter. Sycomore Asset Management lifted its holdings in Confluent by 308.3% during the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company's stock worth $9,176,000 after buying an additional 251,507 shares during the period. Pathway Capital Management LP acquired a new position in Confluent during the 3rd quarter worth about $918,000. Sei Investments Co. lifted its holdings in Confluent by 29.1% during the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company's stock worth $9,022,000 after buying an additional 68,880 shares during the period. Finally, Creative Planning lifted its holdings in Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company's stock worth $1,935,000 after buying an additional 49,699 shares during the period. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Trading Up 2.9 %

NASDAQ:CFLT traded up $0.90 on Monday, hitting $32.42. The stock had a trading volume of 3,061,021 shares, compared to its average volume of 4,373,825. 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, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm's fifty day simple moving average is $23.35 and its two-hundred day simple moving average is $24.57.

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

Analyst Upgrades and Downgrades

CFLT has been the topic of several recent research reports. DA Davidson reaffirmed a "buy" rating and set a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. Mizuho lifted their price objective on Confluent from $29.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Bank of America lowered their price objective on Confluent from $32.00 to $26.00 and set an "underperform" rating for the company in a research report on Thursday, August 1st. Truist Financial reissued a "buy" rating and issued a $30.00 price target (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.88.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 2,096 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $59,170.08. Following the completion of the sale, the chief accounting officer now directly owns 190,680 shares of the company's stock, valued at $5,382,896.40. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Erica Schultz sold 9,467 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $267,253.41. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at $19,140,391.68. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,425,457 shares of company stock worth $93,622,927. Company insiders own 13.82% of the company's stock.

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.