Vanguard Group Inc. Increases Holdings in Confluent, Inc. (NASDAQ:CFLT)

Vanguard Group Inc. lifted its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,828,562 shares of the company's stock after buying an additional 599,582 shares during the quarter. Vanguard Group Inc. owned about 7.57% of Confluent worth $694,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Confluent in the 4th quarter worth $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent in the 3rd quarter valued at $68,000. GAMMA Investing LLC increased its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after purchasing an additional 1,136 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after buying an additional 3,538 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Insiders Place Their Bets

In related news, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the sale, the chief financial officer now directly owns 520,273 shares of the company's stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the transaction, the chief accounting officer now directly owns 246,516 shares of the company's stock, valued at approximately $6,621,419.76. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,200,746 shares of company stock worth $38,505,150 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Remove Ads

Confluent Stock Performance

Shares of Confluent stock traded down $1.03 during trading hours on Friday, reaching $20.17. The company had a trading volume of 7,211,116 shares, compared to its average volume of 4,409,580. The firm has a market cap of $6.74 billion, a PE ratio of -18.68 and a beta of 0.90. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The business has a fifty day simple moving average of $28.82 and a 200 day simple moving average of $27.24.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its 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 return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CFLT shares. William Blair restated an "outperform" rating on shares of Confluent in a report on Monday, March 17th. Guggenheim raised their target price on Confluent from $35.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Mizuho lifted their target price on Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Confluent from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Finally, Piper Sandler lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.15.

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.