Confluent, Inc. (NASDAQ:CFLT) Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC increased its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 132.1% during the 3rd quarter, Holdings Channel reports. The fund owned 67,300 shares of the company’s stock after purchasing an additional 38,300 shares during the quarter. Intellectus Partners LLC’s holdings in Confluent were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in Confluent in the 2nd quarter worth approximately $68,000. UniSuper Management Pty Ltd increased its holdings in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the period. Lazard Asset Management LLC boosted its holdings in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Confluent during the second quarter valued at $175,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group lowered their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Evercore ISI decreased their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Confluent Trading Down 1.6 %

NASDAQ CFLT opened at $28.53 on Friday. The business’s fifty day simple moving average is $22.24 and its 200-day simple moving average is $24.62. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, equities research analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Insider Activity

In related news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at approximately $3,505,070.64. The trade was a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rohan Sivaram sold 22,926 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $497,035.68. Following the completion of the transaction, the chief financial officer now directly owns 555,337 shares in the company, valued at $12,039,706.16. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,041,895 shares of company stock valued at $53,318,197. 13.82% of the stock is currently owned by company insiders.

Confluent 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.