Confluent, Inc. $CFLT Shares Bought by Maxi Investments CY Ltd

Maxi Investments CY Ltd grew its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 81.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,366 shares of the company’s stock after purchasing an additional 63,100 shares during the period. Maxi Investments CY Ltd’s holdings in Confluent were worth $2,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Confluent in the 3rd quarter valued at about $36,000. Ramirez Asset Management Inc. acquired a new stake in shares of Confluent in the third quarter valued at about $40,000. Elevation Point Wealth Partners LLC purchased a new stake in Confluent during the second quarter worth about $49,000. Jones Financial Companies Lllp boosted its holdings in Confluent by 250.6% during the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock worth $69,000 after buying an additional 2,481 shares in the last quarter. Finally, Rothschild Investment LLC grew its position in Confluent by 110,016.7% during the third 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 period. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $30.99 on Tuesday. The business’s fifty day moving average price is $30.58 and its two-hundred day moving average price is $26.02. The stock has a market cap of $11.08 billion, a PE ratio of -36.03 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 $31.00.

Confluent (NASDAQ:CFLT) last released 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 return on equity of 22.66% and a negative net margin of 25.31%.The company 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 firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on CFLT shares. Citizens Jmp cut shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Friday, January 9th. DA Davidson restated a “neutral” rating and issued a $31.00 price target (up from $29.00) on shares of Confluent in a report on Monday, December 8th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on Confluent and gave the company a “hold” rating in a research note on Monday, December 8th. UBS Group downgraded Confluent from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $29.00 to $31.00 in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $31.00 price objective on shares of Confluent in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $28.71.

Insider Activity

In related news, Director Eric Vishria sold 61,905 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.57, for a total value of $1,892,435.85. Following the completion of the transaction, the director owned 663,637 shares of the company’s stock, valued at approximately $20,287,383.09. The trade was a 8.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 2,277 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $69,903.90. Following the completion of the transaction, the chief accounting officer owned 218,228 shares in the company, valued at approximately $6,699,599.60. This trade represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 534,745 shares of company stock worth $16,388,405 in the last quarter. Corporate insiders own 13.82% of the company’s stock.

About Confluent

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.