Lbp Am Sa Grows Stock Position in Confluent, Inc. $CFLT

Lbp Am Sa raised its position in Confluent, Inc. (NASDAQ:CFLT) by 13.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,251,413 shares of the company’s stock after acquiring an additional 146,713 shares during the period. Lbp Am Sa’s holdings in Confluent were worth $24,778,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its position in shares of Confluent by 21.7% during the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after purchasing an additional 826 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Confluent by 8.7% in the third quarter. Perigon Wealth Management LLC now owns 10,775 shares of the company’s stock valued at $213,000 after purchasing an additional 866 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Confluent by 7.7% during the second quarter. J.W. Cole Advisors Inc. now owns 13,880 shares of the company’s stock worth $346,000 after buying an additional 993 shares in the last quarter. Farther Finance Advisors LLC grew its position in Confluent by 252.3% during the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock worth $36,000 after buying an additional 1,037 shares during the period. Finally, New York Life Investment Management LLC increased its holdings in Confluent by 5.0% in the second quarter. New York Life Investment Management LLC now owns 27,134 shares of the company’s stock valued at $676,000 after buying an additional 1,291 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In related news, CRO Ban Ryan Norris Mac sold 44,114 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $29.77, for a total transaction of $1,313,273.78. Following the transaction, the executive owned 336,950 shares of the company’s stock, valued at approximately $10,031,001.50. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alyssa Henry sold 62,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,875,000.00. Following the sale, the director owned 28,549 shares in the company, valued at approximately $856,470. This trade represents a 68.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,455,620 shares of company stock valued at $40,630,407. 13.82% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CFLT has been the topic of several research analyst reports. Wells Fargo & Company reissued an “equal weight” rating and set a $31.00 price target on shares of Confluent in a research note on Monday, December 8th. Stifel Nicolaus boosted their target price on Confluent from $21.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, October 28th. The Goldman Sachs Group upped their target price on Confluent from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Sanford C. Bernstein downgraded Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a research note on Friday. Finally, Wolfe Research lowered shares of Confluent from an “outperform” rating to a “hold” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.78.

Confluent Stock Up 0.1%

CFLT opened at $30.55 on Monday. The firm has a market cap of $10.69 billion, a P/E ratio of -33.94 and a beta of 0.95. The business’s fifty day simple moving average is $27.82 and its 200 day simple moving average is $23.55. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.98.

Confluent (NASDAQ:CFLT) last announced its earnings results on Monday, October 27th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Confluent had a negative net margin of 27.32% and a negative return on equity of 25.40%. The firm had revenue of $298.52 million during the quarter, compared to the consensus estimate of $292.69 million. During the same quarter in the previous year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.