Madison Investment Advisors LLC Takes $5.12 Million Position in Confluent, Inc. (NASDAQ:CFLT)

Madison Investment Advisors LLC purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 182,987 shares of the company's stock, valued at approximately $5,116,000. Madison Investment Advisors LLC owned about 0.06% of Confluent as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Champlain Investment Partners LLC grew its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Confluent by 46.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company's stock valued at $51,224,000 after acquiring an additional 802,353 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Confluent in the 4th quarter worth approximately $20,061,000. Savant Capital LLC acquired a new position in Confluent during the fourth quarter worth $10,607,000. Finally, Oddo BHF Asset Management Sas bought a new position in Confluent during the 3rd quarter valued at about $7,646,000. Institutional investors own 78.09% of the company's stock.

Confluent Trading Down 3.5 %

CFLT traded down $0.93 on Wednesday, hitting $25.96. 3,459,859 shares of the company were exchanged, compared to its average volume of 4,308,691. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The firm has a fifty day simple moving average of $29.46 and a two-hundred day simple moving average of $27.13. The stock has a market capitalization of $8.67 billion, a PE ratio of -24.04 and a beta of 0.90.

Remove Ads

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Confluent

In related news, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total transaction 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. The trade was a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $14,628,937.04. This represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,200,746 shares of company stock valued at $38,505,150. Corporate insiders own 13.82% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Scotiabank lifted their price objective on Confluent from $27.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Mizuho raised their price objective on shares of Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Guggenheim raised their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Loop Capital decreased their price target on Confluent from $34.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, March 10th. Finally, Barclays upped their price objective on Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $35.33.

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.