Andra AP fonden Has $5.76 Million Stake in Confluent, Inc. $CFLT

Andra AP fonden increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 55.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,917 shares of the company’s stock after acquiring an additional 103,529 shares during the quarter. Andra AP fonden owned about 0.08% of Confluent worth $5,760,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Confluent by 10.5% during the 3rd quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock valued at $620,675,000 after purchasing an additional 2,970,708 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Confluent by 6.7% in the second quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock valued at $288,939,000 after purchasing an additional 727,943 shares during the period. Franklin Resources Inc. lifted its stake in shares of Confluent by 1.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,592,443 shares of the company’s stock worth $214,210,000 after buying an additional 143,232 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Confluent by 12.5% during the 2nd quarter. Geode Capital Management LLC now owns 5,235,819 shares of the company’s stock worth $130,551,000 after buying an additional 583,219 shares during the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. boosted its holdings in shares of Confluent by 17.9% during the 2nd quarter. Optimus Prime Fund Management Co. Ltd. now owns 5,070,000 shares of the company’s stock worth $126,395,000 after buying an additional 770,000 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

CFLT has been the topic of several research analyst reports. Wells Fargo & Company reissued an “equal weight” rating and issued a $31.00 price target on shares of Confluent in a report on Monday, December 8th. Wolfe Research lowered Confluent from an “outperform” rating to a “hold” rating in a research note on Monday, December 8th. Truist Financial set a $31.00 price target on Confluent in a report on Monday, December 8th. Guggenheim lowered Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada downgraded Confluent from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $30.00 to $31.00 in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Hold” and an average price target of $28.71.

Confluent Stock Performance

NASDAQ:CFLT opened at $30.67 on Friday. The company has a market cap of $10.97 billion, a price-to-earnings ratio of -35.66 and a beta of 0.95. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two 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. The stock has a fifty day moving average price of $30.43 and a 200-day moving average price of $24.97.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company had revenue of $314.82 million for the quarter, compared to analysts’ expectations of $308.03 million. During the same quarter last year, the business earned $0.09 earnings per share. Confluent’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, Director Eric Vishria sold 61,905 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $30.57, for a total transaction of $1,892,435.85. Following the completion of the transaction, the director directly owned 663,637 shares in the company, valued at $20,287,383.09. The trade was a 8.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alyssa Henry sold 62,500 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total value of $1,875,000.00. Following the sale, the director owned 28,549 shares of the company’s stock, valued at $856,470. The trade was a 68.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,539,830 shares of company stock worth $46,231,391. 9.20% of the stock is owned by company insiders.

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.