Confluent, Inc. (NASDAQ:CFLT) Holdings Lowered by AtonRa Partners

AtonRa Partners cut its stake in Confluent, Inc. (NASDAQ:CFLT) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,265 shares of the company’s stock after selling 1,917 shares during the period. AtonRa Partners’ holdings in Confluent were worth $240,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CFLT. Invesco Ltd. boosted its stake in Confluent by 14.0% during the third quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock valued at $113,230,000 after buying an additional 470,002 shares in the last quarter. KADENSA CAPITAL Ltd acquired a new stake in Confluent during the third quarter valued at approximately $11,512,000. Tower Research Capital LLC TRC boosted its holdings in Confluent by 18,649.2% during the third quarter. Tower Research Capital LLC TRC now owns 12,187 shares of the company’s stock worth $361,000 after buying an additional 12,122 shares in the last quarter. Northern Trust Corp grew its position in Confluent by 45.7% in the third quarter. Northern Trust Corp now owns 1,044,896 shares of the company’s stock worth $30,939,000 after buying an additional 327,940 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after buying an additional 2,125,843 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Transactions at Confluent

In related news, CMO Stephanie Buscemi sold 2,724 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the transaction, the chief marketing officer now directly owns 109,002 shares of the company’s stock, valued at $3,504,414.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Stephanie Buscemi sold 2,724 shares of Confluent stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $87,576.60. Following the sale, the chief marketing officer now directly owns 109,002 shares in the company, valued at $3,504,414.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CFLT. DA Davidson reaffirmed a “buy” rating and set a $37.00 target price on shares of Confluent in a research report on Monday, April 1st. Barclays upped their price target on shares of Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Wells Fargo & Company lifted their price objective on shares of Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Stifel Nicolaus began coverage on Confluent in a report on Wednesday, February 21st. They issued a “buy” rating and a $40.00 target price for the company. Finally, The Goldman Sachs Group lifted their target price on Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

Confluent Price Performance

CFLT stock traded down $0.11 on Tuesday, reaching $28.75. 533,913 shares of the company were exchanged, compared to its average volume of 4,808,437. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $41.22. The stock’s fifty day moving average price is $30.82 and its 200 day moving average price is $26.31.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. As a group, equities analysts anticipate that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

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.