Pathway Capital Management LP Takes $918,000 Position in Confluent, Inc. (NASDAQ:CFLT)

Pathway Capital Management LP purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 45,035 shares of the company's stock, valued at approximately $918,000. Confluent makes up 1.7% of Pathway Capital Management LP's portfolio, making the stock its 4th biggest holding.

A number of other large investors also recently bought and sold shares of CFLT. DekaBank Deutsche Girozentrale increased its stake in Confluent by 8.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company's stock worth $322,000 after purchasing an additional 857 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock valued at $91,000 after buying an additional 859 shares during the period. Resolute Advisors LLC raised its stake in shares of Confluent by 11.1% in the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company's stock worth $265,000 after purchasing an additional 869 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Confluent by 15.0% in the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company's stock worth $241,000 after acquiring an additional 1,064 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Confluent by 9.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company's stock worth $374,000 after purchasing an additional 1,113 shares during the period. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Buying and Selling

In other news, Director Matthew Craig Miller sold 1,067,242 shares of Confluent stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.51, for a total transaction of $29,359,827.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Matthew Craig Miller sold 1,067,242 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,274,395 shares of company stock valued at $58,230,922 in the last three months. 13.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CFLT has been the topic of a number of recent analyst reports. Wolfe Research upgraded shares of Confluent to a "strong-buy" rating in a report on Wednesday, September 18th. Sanford C. Bernstein dropped their price objective on Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. Canaccord Genuity Group reduced their price target on shares of Confluent from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. Citigroup boosted their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Finally, Bank of America decreased their price target 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 equities research analyst has rated the stock with a sell rating, seven have given 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.88.

Confluent Stock Performance

Shares of CFLT traded up $0.33 during trading hours on Tuesday, hitting $27.70. The company had a trading volume of 2,983,173 shares, compared to its average volume of 4,351,824. The business has a fifty day moving average of $21.74 and a 200-day moving average of $24.58. Confluent, Inc. has a 12 month low of $17.26 and a 12 month high of $35.07. 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 $9.09 billion, a price-to-earnings ratio of -24.66 and a beta of 0.82.

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

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.