Confluent, Inc. (NASDAQ:CFLT) Shares Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 195.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,994 shares of the company's stock after buying an additional 78,746 shares during the quarter. Qsemble Capital Management LP's holdings in Confluent were worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Confluent during the third quarter worth approximately $2,535,000. Algert Global LLC acquired a new stake in shares of Confluent during the 3rd quarter worth $1,775,000. Cerity Partners LLC raised its position in shares of Confluent by 28.1% in the 3rd quarter. Cerity Partners LLC now owns 35,129 shares of the company's stock worth $716,000 after buying an additional 7,705 shares during the period. Champlain Investment Partners LLC raised its position in shares of Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock worth $218,083,000 after buying an additional 4,486,841 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company's stock valued at $46,549,000 after acquiring an additional 64,926 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Stock Performance

Shares of NASDAQ:CFLT traded down $0.94 during trading on Tuesday, reaching $31.29. 5,737,635 shares of the company's stock traded hands, compared to its average volume of 4,398,792. The stock has a market capitalization of $10.26 billion, a P/E ratio of -28.19 and a beta of 0.82. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a 50 day moving average of $23.58 and a 200-day moving average of $24.58. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its 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 company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, equities analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In other news, CMO Stephanie Buscemi sold 26,047 shares of Confluent stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.89, for a total transaction of $856,685.83. Following the sale, the chief marketing officer now owns 144,373 shares of the company's stock, valued at approximately $4,748,427.97. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Kong Phan sold 2,096 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the transaction, the chief accounting officer now owns 190,680 shares of the company's stock, valued at approximately $5,382,896.40. This represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,174,150 shares of company stock worth $116,810,014 in the last three months. 13.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on CFLT shares. Baird R W upgraded Confluent to a "hold" rating in a report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on shares of Confluent from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Confluent from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, August 1st. UBS Group raised their target price on shares of Confluent from $23.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Piper Sandler decreased their price target on shares of Confluent from $37.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Confluent currently has a consensus rating of "Moderate Buy" and an average target price of $30.88.

About Confluent

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.