Penserra Capital Management LLC Has $3.99 Million Stake in Confluent, Inc. $CFLT

Penserra Capital Management LLC grew its holdings in Confluent, Inc. (NASDAQ:CFLT) by 49.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 201,364 shares of the company’s stock after purchasing an additional 66,676 shares during the quarter. Penserra Capital Management LLC owned about 0.06% of Confluent worth $3,986,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CFLT. True Wealth Design LLC acquired a new position in Confluent during the 3rd quarter worth about $36,000. Elevation Point Wealth Partners LLC bought a new position in shares of Confluent in the second quarter worth about $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Confluent during the second quarter worth approximately $67,000. Jones Financial Companies Lllp grew its stake in shares of Confluent by 250.6% during the third 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 last quarter. Finally, AlphaQuest LLC grew its stake in shares of Confluent by 21.7% during 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. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Monday, December 15th. The shares were sold at an average price of $30.10, for a total transaction of $6,998,250.00. Following the transaction, the chief executive officer directly owned 339,367 shares of the company’s stock, valued at $10,214,946.70. This trade represents a 40.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kong Phan sold 4,545 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $29.96, for a total transaction of $136,168.20. Following the completion of the transaction, the chief accounting officer directly owned 220,505 shares of the company’s stock, valued at $6,606,329.80. This trade represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,357,664 shares of company stock valued at $38,315,446. 9.20% of the stock is owned by company insiders.

Confluent Stock Performance

Shares of CFLT stock opened at $30.36 on Friday. The stock has a market cap of $10.62 billion, a PE ratio of -33.73 and a beta of 0.95. The stock has a 50-day moving average of $29.37 and a 200-day moving average of $23.93. 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 one year low of $15.64 and a one year high of $37.90.

Analysts Set New Price Targets

Several research firms have issued reports on CFLT. Wolfe Research downgraded Confluent from an “outperform” rating to a “hold” rating in a report on Monday, December 8th. Sanford C. Bernstein lowered Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target on the stock. in a research note on Friday, January 23rd. Piper Sandler lowered Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price objective for the company. in a research report on Monday, December 8th. TD Cowen reissued a “hold” rating on shares of Confluent in a report on Tuesday, October 28th. Finally, New Street Research set a $29.00 target price on shares of Confluent in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.78.

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.