Lbp Am Sa Boosts Stock Holdings in Confluent, Inc. $CFLT

Lbp Am Sa increased its stake in Confluent, Inc. (NASDAQ:CFLT) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,251,413 shares of the company’s stock after acquiring an additional 146,713 shares during the period. Lbp Am Sa owned approximately 0.36% of Confluent worth $24,778,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Confluent by 133.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 942,303 shares of the company’s stock valued at $22,088,000 after purchasing an additional 537,874 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Confluent during the first quarter worth approximately $332,000. Farther Finance Advisors LLC raised its holdings in Confluent by 252.3% in the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock valued at $36,000 after acquiring an additional 1,037 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Confluent by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 85,941 shares of the company’s stock worth $2,143,000 after acquiring an additional 9,711 shares during the last quarter. Finally, SWS Partners grew its holdings in Confluent by 29.9% during the 2nd quarter. SWS Partners now owns 139,464 shares of the company’s stock worth $3,477,000 after acquiring an additional 32,134 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CRO Ban Ryan Norris Mac sold 44,114 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $29.77, for a total transaction of $1,313,273.78. Following the completion of the sale, the executive owned 336,950 shares in the company, valued at $10,031,001.50. This represents a 11.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 506,000 shares of Confluent stock in a transaction on Friday, December 12th. The shares were sold at an average price of $30.04, for a total transaction of $15,200,240.00. Following the completion of the transaction, the chief executive officer owned 339,367 shares in the company, valued at approximately $10,194,584.68. This represents a 59.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,455,620 shares of company stock worth $40,630,407. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of analyst reports. UBS Group lowered shares of Confluent from a “buy” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $31.00 in a report on Tuesday, December 9th. Stephens raised their price target on Confluent from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Guggenheim downgraded Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on Confluent and gave the company a “hold” rating in a report on Monday, December 8th. Finally, Truist Financial set a $31.00 target price on Confluent in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Hold” and a consensus target price of $28.78.

Confluent Stock Up 0.1%

Confluent stock opened at $30.55 on Monday. The company has a market capitalization of $10.69 billion, a P/E ratio of -33.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a quick ratio of 4.01 and a current ratio of 4.01. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $37.90. The stock has a 50-day simple moving average of $27.82 and a 200-day simple moving average of $23.55.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Monday, October 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $298.52 million for the quarter, compared to analyst estimates of $292.69 million. Confluent had a negative return on equity of 25.40% and a negative net margin of 27.32%.The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

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.