Treasurer of the State of North Carolina Has $1.92 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Treasurer of the State of North Carolina lifted its stake in Confluent, Inc. (NASDAQ:CFLTFree Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 82,082 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Confluent were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CFLT. Rakuten Securities Inc. acquired a new position in shares of Confluent in the fourth quarter worth about $31,000. Quest Partners LLC acquired a new position in Confluent in the 4th quarter worth approximately $31,000. GAMMA Investing LLC acquired a new position in Confluent in the 4th quarter worth approximately $35,000. UniSuper Management Pty Ltd purchased a new position in Confluent during the 3rd quarter worth approximately $36,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in Confluent by 56.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company’s stock valued at $81,000 after purchasing an additional 992 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CFLT. Barclays lifted their price target on Confluent from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Canaccord Genuity Group raised Confluent from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Wednesday, May 8th. Canaccord Genuity Group raised shares of Confluent from a “hold” rating to a “buy” rating and increased their price target for the stock from $28.00 to $35.00 in a research report on Wednesday, May 8th. Stifel Nicolaus started coverage on shares of Confluent in a research report on Wednesday, February 21st. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Confluent in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.04.

Check Out Our Latest Analysis on CFLT

Confluent Price Performance

NASDAQ CFLT opened at $25.78 on Friday. The stock has a 50-day simple moving average of $29.08 and a 200 day simple moving average of $27.40. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $41.22. The stock has a market capitalization of $8.19 billion, a PE ratio of -20.62 and a beta of 0.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07.

Confluent (NASDAQ:CFLTGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The business had revenue of $217.24 million for the quarter, compared to analyst estimates of $211.57 million. Confluent had a negative return on equity of 40.55% and a negative net margin of 46.73%. Research analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the transaction, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $31.00, for a total transaction of $1,975,599.00. Following the sale, the insider now owns 706,715 shares of the company’s stock, valued at approximately $21,908,165. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the completion of the transaction, the chief technology officer now owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The disclosure for this sale can be found here. Insiders sold a total of 615,782 shares of company stock valued at $18,014,087 in the last ninety days. Company insiders own 13.82% of the company’s stock.

Confluent Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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