Quantbot Technologies LP Raises Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Quantbot Technologies LP grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 1,465.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,295 shares of the company's stock after purchasing an additional 28,360 shares during the period. Quantbot Technologies LP's holdings in Confluent were worth $617,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Confluent in the second quarter worth $68,000. Acadian Asset Management LLC purchased a new position in shares of Confluent during the 2nd quarter worth about $175,000. Plato Investment Management Ltd boosted its holdings in Confluent by 2,184.1% during the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company's stock valued at $195,000 after acquiring an additional 6,312 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Confluent during the 3rd quarter valued at about $214,000. Finally, Centaurus Financial Inc. increased its holdings in Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company's stock worth $216,000 after purchasing an additional 3,821 shares during the period. Institutional investors own 78.09% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CFLT. Scotiabank raised their price target on shares of Confluent from $25.00 to $27.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Robert W. Baird upped their price target on Confluent from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Mizuho raised their price objective on Confluent from $29.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Sanford C. Bernstein cut their price objective on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, Citigroup lifted their price objective on Confluent from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Confluent currently has an average rating of "Moderate Buy" and a consensus target price of $30.88.

Confluent Stock Performance

Confluent stock traded up $0.20 during midday trading on Tuesday, reaching $31.20. The company's stock had a trading volume of 899,391 shares, compared to its average volume of 4,358,351. The business has a 50-day moving average price of $24.40 and a 200-day moving average price of $24.59. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

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

Insider Activity at Confluent

In other Confluent news, CMO Stephanie Buscemi sold 164,123 shares of Confluent stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the transaction, the chief marketing officer now directly owns 149,644 shares of the company's stock, valued at approximately $3,926,658.56. The trade was a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction of $31,335,085.10. Following the completion of the sale, the director now directly owns 12,559 shares of the company's stock, valued at approximately $362,955.10. This trade represents a 98.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,237,879 shares of company stock worth $118,823,850. 13.82% of the stock is owned by company insiders.

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.