Allianz Asset Management GmbH Lowers Holdings in Confluent, Inc. $CFLT

Allianz Asset Management GmbH decreased its holdings in Confluent, Inc. (NASDAQ:CFLT) by 96.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,667 shares of the company’s stock after selling 564,325 shares during the period. Allianz Asset Management GmbH’s holdings in Confluent were worth $469,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Confluent in the third quarter worth approximately $36,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Confluent in the 2nd quarter worth $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Confluent in the 2nd quarter worth about $67,000. Jones Financial Companies Lllp raised its position in shares of Confluent by 250.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after buying an additional 2,481 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Confluent by 21.7% in the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after acquiring an additional 826 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling

In other Confluent news, CRO Ban Ryan Norris Mac sold 3,053 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $29.96, for a total transaction of $91,467.88. Following the transaction, the executive owned 332,679 shares of the company’s stock, valued at approximately $9,967,062.84. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 339,367 shares of the company’s stock, valued at approximately $10,214,946.70. This represents a 40.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,125,164 shares of company stock valued at $32,844,721 over the last quarter. 9.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein downgraded Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a research report on Friday, January 23rd. William Blair lowered Confluent from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. Guggenheim downgraded Confluent from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. DA Davidson reiterated a “neutral” rating and set a $31.00 price objective (up previously from $29.00) on shares of Confluent in a research report on Monday, December 8th. Finally, Robert W. Baird raised their target price on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.71.

Confluent Stock Performance

Confluent stock opened at $30.56 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.01 and a current ratio of 3.83. The company has a market capitalization of $10.69 billion, a PE ratio of -35.53 and a beta of 0.95. The company has a 50 day moving average price of $30.30 and a 200-day moving average price of $24.08. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $36.25.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same period in the previous year, the company posted $0.09 EPS. Confluent’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

About Confluent

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.