12,027 Shares in Confluent, Inc. (NASDAQ:CFLT) Purchased by Clearline Capital LP

Clearline Capital LP bought a new stake in Confluent, Inc. (NASDAQ:CFLT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 12,027 shares of the company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Confluent in the second quarter valued at approximately $68,000. Point72 Hong Kong Ltd acquired a new stake in Confluent during the 3rd quarter worth approximately $68,000. Acadian Asset Management LLC acquired a new position in shares of Confluent in the second quarter worth $175,000. Plato Investment Management Ltd increased its position in shares of Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after acquiring an additional 6,312 shares during the period. Finally, Centaurus Financial Inc. raised its stake in shares of Confluent by 109.2% in the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after acquiring an additional 3,821 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This represents a 33.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Stephanie Buscemi sold 164,123 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the sale, the chief marketing officer now directly owns 149,644 shares of the company’s stock, valued at approximately $3,926,658.56. This trade represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,237,879 shares of company stock worth $118,823,850 over the last ninety days. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Up 0.9 %

Confluent stock opened at $30.84 on Monday. The stock has a 50 day moving average of $24.40 and a two-hundred day moving average of $24.64. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of -27.78 and a beta of 0.82. 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 (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CFLT. Barclays lifted their target price on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. DA Davidson restated a “buy” rating and set a $30.00 target price on shares of Confluent in a research note on Wednesday, September 18th. UBS Group raised their target price on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.88.

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.