Exane Asset Management Acquires 219,577 Shares of Confluent, Inc. $CFLT

Exane Asset Management boosted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 285,164.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,654 shares of the company’s stock after acquiring an additional 219,577 shares during the quarter. Confluent accounts for about 1.6% of Exane Asset Management’s investment portfolio, making the stock its 11th largest position. Exane Asset Management owned 0.06% of Confluent worth $4,349,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Confluent by 252.3% in the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock worth $36,000 after acquiring an additional 1,037 shares in the last quarter. True Wealth Design LLC bought a new stake in Confluent during the third quarter worth about $36,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Confluent in the 2nd quarter worth about $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Confluent during the 2nd quarter valued at about $67,000. Finally, AlphaQuest LLC raised its holdings in shares of Confluent by 21.7% during the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after buying an additional 826 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $30.10, for a total value of $6,998,250.00. Following the completion of the transaction, the chief executive officer directly owned 339,367 shares in the company, valued at approximately $10,214,946.70. This represents a 40.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Vishria sold 15,476 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $464,280.00. Following the completion of the sale, the director directly owned 1,061,542 shares of the company’s stock, valued at approximately $31,846,260. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,387,664 shares of company stock valued at $39,022,546 over the last three months. Insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial downgraded 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 target price on shares of Confluent in a research report on Thursday, October 30th. Sanford C. Bernstein lowered shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Confluent in a research note on Monday, December 29th. Finally, TD Cowen reissued a “hold” rating on shares of Confluent in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.78.

Confluent Stock Up 0.0%

Shares of NASDAQ:CFLT opened at $30.54 on Wednesday. The stock’s 50-day moving average is $28.14 and its 200 day moving average is $23.64. The company has a market cap of $10.68 billion, a PE ratio of -33.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Monday, October 27th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Confluent had a negative return on equity of 25.40% and a negative net margin of 27.32%.The firm had revenue of $298.52 million for the quarter, compared to analyst estimates of $292.69 million. During the same period last year, the company earned $0.10 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Confluent 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.