Marshall Wace LLP Raises Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Marshall Wace LLP increased its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 119.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 346,691 shares of the company's stock after purchasing an additional 188,597 shares during the period. Marshall Wace LLP owned approximately 0.11% of Confluent worth $9,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFLT. Vanguard Group Inc. lifted its stake in Confluent by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company's stock valued at $694,207,000 after acquiring an additional 599,582 shares during the last quarter. Geode Capital Management LLC increased its stake in Confluent by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock worth $123,339,000 after acquiring an additional 84,163 shares during the period. Norges Bank bought a new stake in Confluent during the fourth quarter worth about $81,092,000. Charles Schwab Investment Management Inc. boosted its position in shares of Confluent by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company's stock worth $65,860,000 after acquiring an additional 71,454 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company's stock valued at $65,748,000 after purchasing an additional 2,319,919 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CFLT. Guggenheim reiterated a "buy" rating and issued a $38.00 price target on shares of Confluent in a research note on Wednesday. Scotiabank cut their price target on shares of Confluent from $35.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Thursday. Loop Capital lowered their target price on Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of Confluent in a research note on Friday, March 7th. Finally, Truist Financial cut their price target on shares of Confluent from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.39.

Confluent Trading Up 3.7 %

Shares of NASDAQ CFLT traded up $0.87 during trading hours on Friday, reaching $24.13. The stock had a trading volume of 4,467,632 shares, compared to its average volume of 4,516,721. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of -22.34 and a beta of 1.03. The business's fifty day moving average price is $25.39 and its two-hundred day moving average price is $27.37. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings results 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%. Analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction 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 owns 452,488 shares in the company, valued at $14,628,937.04. This represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kong Phan sold 2,178 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the transaction, the chief accounting officer now directly owns 177,415 shares of the company's stock, valued at approximately $5,602,765.70. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,200,746 shares of company stock valued at $38,505,150. 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.