Rock Point Advisors LLC Has $3.14 Million Position in Confluent, Inc. $CFLT

Rock Point Advisors LLC lifted its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 62.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 158,367 shares of the company’s stock after buying an additional 60,975 shares during the quarter. Rock Point Advisors LLC’s holdings in Confluent were worth $3,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CFLT. Goldman Sachs Group Inc. grew its stake in Confluent by 133.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 942,303 shares of the company’s stock valued at $22,088,000 after buying an additional 537,874 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Confluent during the first quarter worth approximately $332,000. AlphaQuest LLC grew its position in shares of Confluent by 21.7% in the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after purchasing an additional 826 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Confluent by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 86,022 shares of the company’s stock valued at $2,145,000 after purchasing an additional 1,338 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Confluent by 17.2% during the second quarter. Amalgamated Bank now owns 19,913 shares of the company’s stock worth $496,000 after purchasing an additional 2,918 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CFLT. William Blair downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $31.00 target price on Confluent and gave the stock a “hold” rating in a report on Monday, December 8th. UBS Group cut shares of Confluent from a “buy” rating to a “neutral” rating and boosted their target price for the company from $29.00 to $31.00 in a research report on Tuesday, December 9th. Needham & Company LLC lowered shares of Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Piper Sandler cut shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Confluent presently has an average rating of “Hold” and an average target price of $28.71.

Confluent Stock Up 0.2%

Shares of NASDAQ CFLT opened at $30.75 on Wednesday. The stock has a market capitalization of $11.00 billion, a P/E ratio of -35.76 and a beta of 0.95. The stock’s fifty day moving average is $30.46 and its 200 day moving average is $25.21. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $32.63. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $308.03 million. During the same period in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 270,207 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $8,295,354.90. Following the completion of the sale, the chief executive officer directly owned 301,660 shares in the company, valued at $9,260,962. This represents a 47.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rohan Sivaram sold 21,503 shares of Confluent stock in a transaction on Friday, February 20th. The shares were sold at an average price of $30.70, for a total value of $660,142.10. Following the completion of the transaction, the chief financial officer owned 561,966 shares in the company, valued at approximately $17,252,356.20. The trade was a 3.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,501,830 shares of company stock worth $45,389,931 in the last three months. Company insiders own 13.82% of the company’s stock.

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.