Lisanti Capital Growth LLC bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 156,690 shares of the company's stock, valued at approximately $4,381,000.
A number of other hedge funds have also bought and sold shares of CFLT. Blue Trust Inc. grew its holdings in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent in the 4th quarter worth $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent during the 3rd quarter worth about $68,000. GAMMA Investing LLC increased its holdings in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of Confluent by 48.4% in the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock valued at $138,000 after purchasing an additional 1,613 shares during the period. Institutional investors and hedge funds own 78.09% of the company's stock.
Insider Activity at Confluent
In other news, Director Lara Caimi sold 34,500 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the transaction, the director now directly owns 7,160 shares of the company's stock, valued at $224,251.20. This represents a 82.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Erica Schultz sold 150,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the completion of the sale, the insider now owns 678,016 shares of the company's stock, valued at $24,286,533.12. This trade represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,248,478 shares of company stock worth $40,003,844 in the last three months. Insiders own 13.82% of the company's stock.
Confluent Stock Performance
Shares of CFLT traded up $1.10 during mid-day trading on Tuesday, reaching $25.50. 8,502,252 shares of the company's stock were exchanged, compared to its average volume of 4,251,920. The stock has a market capitalization of $8.52 billion, a PE ratio of -23.61 and a beta of 0.90. The business's fifty day simple moving average is $29.85 and its 200-day simple moving average is $26.68. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. 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 data 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 expect that Confluent, Inc. will post -0.83 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Piper Sandler upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of Confluent in a report on Friday. Finally, William Blair reiterated an "outperform" rating on shares of Confluent in a research note on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.33.
Check Out Our Latest Stock Analysis on CFLT
Confluent Profile
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Free Report)
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.
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