Teacher Retirement System of Texas Has $703,000 Stock Position in Confluent, Inc. $CFLT

Teacher Retirement System of Texas trimmed its holdings in Confluent, Inc. (NASDAQ:CFLT) by 58.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,497 shares of the company’s stock after selling 50,525 shares during the period. Teacher Retirement System of Texas’ holdings in Confluent were worth $703,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CFLT. Farther Finance Advisors LLC raised its stake in Confluent by 252.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock valued at $36,000 after acquiring an additional 1,037 shares during the period. True Wealth Design LLC acquired a new position in shares of Confluent in the third quarter valued at $36,000. Elevation Point Wealth Partners LLC bought a new position in shares of Confluent in the second quarter valued at about $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Confluent during the 2nd quarter worth about $67,000. Finally, AlphaQuest LLC boosted its holdings in shares of Confluent by 21.7% during the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after buying an additional 826 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 4,545 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $6,606,329.80. The trade was a 2.02% 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 Lara Caimi sold 1,074 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 $32,220.00. Following the sale, the director owned 11,524 shares of the company’s stock, valued at $345,720. The trade was a 8.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,357,664 shares of company stock worth $38,315,446 in the last three months. Company insiders own 9.20% of the company’s stock.

Confluent Stock Down 0.4%

Shares of NASDAQ CFLT opened at $30.33 on Thursday. Confluent, Inc. has a 52 week low of $15.64 and a 52 week high of $37.90. The stock’s fifty day moving average is $29.20 and its 200 day moving average is $23.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a market capitalization of $10.61 billion, a P/E ratio of -33.70 and a beta of 0.95.

Analyst Ratings Changes

Several research firms have weighed in on CFLT. William Blair cut shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. New Street Research set a $29.00 price objective on Confluent in a report on Thursday, October 30th. Needham & Company LLC downgraded Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. Robert W. Baird lifted their price target on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Finally, Citizens Jmp downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.78.

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.