Confluent, Inc. (NASDAQ:CFLT) Stock Holdings Reduced by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its position in Confluent, Inc. (NASDAQ:CFLT) by 89.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,214 shares of the company’s stock after selling 2,242,212 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.08% of Confluent worth $7,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. Norges Bank purchased a new position in Confluent in the fourth quarter valued at about $81,092,000. Pictet Asset Management Holding SA lifted its position in shares of Confluent by 7,342.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after buying an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Confluent in the fourth quarter worth about $64,658,000. MIG Capital LLC acquired a new stake in shares of Confluent in the fourth quarter worth about $27,007,000. Finally, Greenhouse Funds LLLP lifted its position in shares of Confluent by 102.2% in the fourth quarter. Greenhouse Funds LLLP now owns 1,820,446 shares of the company’s stock worth $50,900,000 after buying an additional 919,997 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Confluent from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. JMP Securities reduced their price target on Confluent from $40.00 to $36.00 and set a “market outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company reduced their price target on Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Bank of America boosted their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. Finally, Loop Capital reduced their price target on Confluent from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average target price of $30.11.

Insider Activity

In other news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $14,628,937.04. This represents a 33.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Kong Phan sold 2,178 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the sale, the chief accounting officer now owns 177,415 shares in the company, valued at approximately $5,602,765.70. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,260,746 shares of company stock worth $39,702,750. Company insiders own 9.20% of the company’s stock.

Confluent Trading Up 3.5%

Shares of CFLT opened at $23.12 on Wednesday. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -21.41 and a beta of 1.02. The stock’s 50-day moving average price is $23.10 and its 200 day moving average price is $27.36.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The firm had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.