Confluent, Inc. $CFLT Shares Bought by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd lifted its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 150.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Confluent were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CFLT. Avestar Capital LLC increased its holdings in shares of Confluent by 13.6% in the third quarter. Avestar Capital LLC now owns 13,992 shares of the company’s stock valued at $277,000 after purchasing an additional 1,674 shares during the period. GSA Capital Partners LLP acquired a new position in Confluent in the 3rd quarter worth approximately $341,000. Rothschild Investment LLC raised its position in Confluent by 110,016.7% during the 3rd quarter. Rothschild Investment LLC now owns 6,607 shares of the company’s stock worth $131,000 after buying an additional 6,601 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 acquiring an additional 2,970,708 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Confluent by 36.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 123,094 shares of the company’s stock valued at $2,437,000 after acquiring an additional 33,031 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on CFLT. Guggenheim lowered shares of Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. William Blair cut Confluent from an “outperform” rating to a “market perform” rating in a report on Monday, December 8th. Oppenheimer downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Piper Sandler cut Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, December 8th. Finally, New Street Research set a $29.00 price target on Confluent in a report on Thursday, October 30th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.71.

Confluent Stock Up 0.2%

Shares of CFLT opened at $30.72 on Friday. The stock has a 50 day moving average price of $30.36 and a 200 day moving average price of $24.34. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of -35.72 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, Inc. has a one year low of $15.64 and a one year high of $33.23.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results 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 firm had revenue of $314.82 million for the quarter, compared to analyst estimates of $308.03 million. During the same period in the previous year, the business posted $0.09 earnings per share. Confluent’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CRO Ban Ryan Norris Mac sold 44,114 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $29.77, for a total value of $1,313,273.78. Following the sale, the executive owned 336,950 shares in the company, valued at approximately $10,031,001.50. The trade was a 11.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neha Narkhede sold 80,000 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $2,447,200.00. Following the sale, the director owned 28,549 shares in the company, valued at approximately $873,313.91. This trade represents a 73.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,214,570 shares of company stock worth $36,246,699 over the last ninety days. 9.20% of the stock is currently owned by 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.