Capricorn Fund Managers Ltd Buys New Stake in Confluent, Inc. $CFLT

Capricorn Fund Managers Ltd purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 130,391 shares of the company’s stock, valued at approximately $3,943,000.

A number of other institutional investors have also modified their holdings of CFLT. Quarry LP purchased a new stake in shares of Confluent in the third quarter worth about $26,000. Danske Bank A S acquired a new position in Confluent in the third quarter valued at approximately $34,000. True Wealth Design LLC acquired a new position in Confluent in the third quarter valued at approximately $36,000. Ramirez Asset Management Inc. purchased a new stake in Confluent in the 3rd quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp boosted its position in Confluent by 250.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock worth $69,000 after purchasing an additional 2,481 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling

In other Confluent news, CRO Ban Ryan Norris Mac sold 19,756 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $30.66, for a total transaction of $605,718.96. Following the completion of the sale, the executive directly owned 358,890 shares in the company, valued at approximately $11,003,567.40. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 29,996 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $30.67, for a total value of $919,977.32. Following the transaction, the chief financial officer directly owned 531,971 shares of the company’s stock, valued at $16,315,550.57. The trade was a 5.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 525,929 shares of company stock worth $16,124,278 in the last quarter. 9.20% of the stock is owned by insiders.

Confluent Price Performance

Confluent stock opened at $30.99 on Monday. The company’s fifty day moving average price is $30.73 and its 200 day moving average price is $27.15. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $31.00. The stock has a market capitalization of $11.08 billion, a P/E ratio of -36.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CFLT. Guggenheim lowered shares of Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. Wells Fargo & Company restated an “equal weight” rating and set a $31.00 price target on shares of Confluent in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on shares of Confluent and gave the company a “hold” rating in a report on Monday, December 8th. UBS Group lowered shares of Confluent from a “buy” rating to a “neutral” rating and increased their target price for the stock from $29.00 to $31.00 in a research note on Tuesday, December 9th. Finally, Needham & Company LLC cut Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Confluent currently has a consensus rating of “Hold” and a consensus price target of $28.71.

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.