Intellectus Partners LLC Has $1.37 Million Holdings in Confluent, Inc. (NASDAQ:CFLT)

Intellectus Partners LLC increased its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 132.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,300 shares of the company's stock after purchasing an additional 38,300 shares during the period. Intellectus Partners LLC's holdings in Confluent were worth $1,372,000 as of its most recent SEC filing.

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

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Stephanie Buscemi sold 3,866 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares of the company's stock, valued at approximately $3,505,070.64. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,358,654 shares of company stock valued at $91,463,207. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Performance

Shares of CFLT traded down $1.46 during trading hours on Friday, hitting $27.07. The company had a trading volume of 3,941,810 shares, compared to its average volume of 4,374,944. The business has a fifty day moving average of $22.39 and a 200-day moving average of $24.61. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market cap of $8.88 billion, a price-to-earnings ratio of -24.39 and a beta of 0.82. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $243.98 million. Equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CFLT. Sanford C. Bernstein decreased their target price on Confluent from $38.00 to $33.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Scotiabank raised their target price on shares of Confluent from $25.00 to $27.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Robert W. Baird upped their price target on shares of Confluent from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Confluent from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Finally, Bank of America reduced their target price on shares of Confluent from $32.00 to $26.00 and set an "underperform" rating for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $30.88.

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.