Tredje AP fonden Takes Position in Confluent, Inc. $CFLT

Tredje AP fonden bought a new stake in Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,056,158 shares of the company’s stock, valued at approximately $20,912,000. Tredje AP fonden owned about 0.30% of Confluent at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. True Wealth Design LLC acquired a new position in Confluent in the third quarter valued at $36,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Confluent in the 2nd quarter valued at about $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Confluent in the 2nd quarter valued at about $67,000. Jones Financial Companies Lllp boosted its position in shares of Confluent by 250.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after purchasing an additional 2,481 shares during the period. Finally, AlphaQuest LLC grew its stake in Confluent by 21.7% during the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after buying an additional 826 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of research reports. William Blair cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Guggenheim downgraded shares of Confluent from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Raymond James Financial cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. New Street Research set a $29.00 price objective on shares of Confluent in a research report on Thursday, October 30th. Finally, Wolfe Research lowered shares of Confluent from an “outperform” rating to a “hold” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Confluent presently has an average rating of “Hold” and an average target price of $28.71.

Insider Transactions at Confluent

In other Confluent news, Director Eric Vishria sold 61,905 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.57, for a total value of $1,892,435.85. Following the completion of the sale, the director owned 663,637 shares of the company’s stock, valued at approximately $20,287,383.09. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michelangelo Volpi sold 25,000 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $764,750.00. Following the sale, the director owned 155,512 shares in the company, valued at $4,757,112.08. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,214,570 shares of company stock valued at $36,246,699. 9.20% of the stock is owned by company insiders.

Confluent Stock Down 0.1%

Shares of NASDAQ:CFLT opened at $30.70 on Friday. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $33.00. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $30.37 and its 200-day simple moving average is $24.43. The company has a market cap of $10.74 billion, a price-to-earnings ratio of -35.70 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The firm had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. During the same period in the prior year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

About Confluent

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.