Confluent, Inc. (NASDAQ:CFLT) Stake Increased by Baillie Gifford & Co.

Baillie Gifford & Co. increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,566 shares of the company’s stock after buying an additional 3,608 shares during the quarter. Baillie Gifford & Co. owned 0.14% of Confluent worth $9,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CFLT. Oppenheimer & Co. Inc. grew its stake in Confluent by 86.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,670 shares of the company’s stock valued at $722,000 after acquiring an additional 10,944 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Confluent by 0.7% in the 1st quarter. Russell Investments Group Ltd. now owns 260,808 shares of the company’s stock valued at $7,960,000 after buying an additional 1,707 shares during the period. ProShare Advisors LLC increased its stake in Confluent by 19.6% in the 1st quarter. ProShare Advisors LLC now owns 11,719 shares of the company’s stock valued at $358,000 after buying an additional 1,922 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Confluent by 19.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,501 shares of the company’s stock worth $473,000 after buying an additional 2,542 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Confluent by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,939 shares of the company’s stock valued at $4,729,000 after buying an additional 26,100 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Price Performance

NASDAQ:CFLT opened at $27.70 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a one year low of $17.26 and a one year high of $35.07. The company has a fifty day moving average price of $21.74 and a 200 day moving average price of $24.58. The stock has a market cap of $9.09 billion, a P/E ratio of -24.95 and a beta of 0.82.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CFLT. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Robert W. Baird raised their price target on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Scotiabank boosted their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $30.00 target price (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Insiders Place Their Bets

In other news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Confluent news, Director Matthew Craig Miller sold 1,067,242 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the sale, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,041,895 shares of company stock worth $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.