Melqart Asset Management UK Ltd Buys Shares of 248,445 Confluent, Inc. $CFLT

Melqart Asset Management UK Ltd purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 248,445 shares of the company’s stock, valued at approximately $4,919,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Confluent in the 2nd quarter worth about $89,736,000. Vanguard Group Inc. grew its stake in Confluent by 10.5% in 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 last quarter. Invesco Ltd. increased its holdings in Confluent by 895.2% during the 3rd quarter. Invesco Ltd. now owns 2,408,170 shares of the company’s stock valued at $47,682,000 after acquiring an additional 2,166,196 shares in the last quarter. Atreides Management LP raised its position in Confluent by 82.0% during the second quarter. Atreides Management LP now owns 3,012,215 shares of the company’s stock worth $75,095,000 after acquiring an additional 1,357,246 shares during the last quarter. Finally, Tredje AP fonden purchased a new stake in shares of Confluent in the third quarter valued at about $20,912,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insiders Place Their Bets

In other Confluent news, Director Eric Vishria sold 61,905 shares of Confluent stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $30.57, for a total value of $1,892,435.85. Following the completion of the sale, the director owned 663,637 shares in the company, valued at $20,287,383.09. The trade was a 8.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Ban Ryan Norris Mac sold 19,756 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $30.66, for a total transaction of $605,718.96. Following the transaction, the executive directly owned 358,890 shares of the company’s stock, valued at approximately $11,003,567.40. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 767,245 shares of company stock valued at $23,386,655. 9.20% of the stock is currently owned by company insiders.

Confluent Stock Performance

Shares of CFLT opened at $30.67 on Friday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $30.81. The company’s 50 day simple moving average is $30.56 and its 200 day simple moving average is $25.84. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of -35.66 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 (NASDAQ:CFLT) last released its earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $308.03 million. During the same period in the previous year, the company earned $0.09 EPS. Confluent’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

CFLT has been the topic of several research reports. Citigroup increased their price target on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, December 9th. Citizens Jmp downgraded Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. UBS Group lowered Confluent from a “buy” rating to a “neutral” rating and upped their target price for the company from $29.00 to $31.00 in a research note on Tuesday, December 9th. Guggenheim cut Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Piper Sandler cut Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.71.

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.