Confluent, Inc. (NASDAQ:CFLT) Position Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,824 shares of the company’s stock after purchasing an additional 1,220 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Confluent were worth $237,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Confluent by 13.0% during 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. Altimeter Capital Management LP lifted its holdings in Confluent by 11.5% in the 1st quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock valued at $348,818,000 after acquiring an additional 1,496,443 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Confluent by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock valued at $300,320,000 after purchasing an additional 1,938,668 shares in the last quarter. BlackRock Inc. boosted its position in shares of Confluent by 1.0% during the 3rd quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after purchasing an additional 78,339 shares in the last quarter. Finally, Durable Capital Partners LP grew its stake in shares of Confluent by 6.8% in the 1st quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock worth $300,496,000 after purchasing an additional 465,214 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Confluent

In other news, Director Michelangelo Volpi sold 637,268 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $31.73, for a total value of $20,220,513.64. Following the transaction, the director now directly owns 302,306 shares of the company’s stock, valued at approximately $9,592,169.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Stephanie Buscemi sold 2,724 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $87,576.60. Following the sale, the chief marketing officer now owns 109,002 shares in the company, valued at $3,504,414.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelangelo Volpi sold 637,268 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.73, for a total value of $20,220,513.64. Following the completion of the sale, the director now owns 302,306 shares of the company’s stock, valued at $9,592,169.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,433,170 shares of company stock valued at $46,438,029. Corporate insiders own 22.08% of the company’s stock.

Confluent Stock Up 0.5 %

Shares of NASDAQ CFLT opened at $28.55 on Wednesday. Confluent, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62. The business has a fifty day moving average of $31.48 and a two-hundred day moving average of $26.41. The stock has a market cap of $8.93 billion, a PE ratio of -19.42 and a beta of 0.91.

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

Analyst Ratings Changes

Several analysts recently commented on CFLT shares. DA Davidson reissued a “buy” rating and set a $37.00 target price on shares of Confluent in a research note on Monday, April 1st. Needham & Company LLC raised their target price on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Loop Capital started coverage on Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 price target on the stock. The Goldman Sachs Group raised their price objective on Confluent from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Mizuho lowered their price objective on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.