Oppenheimer & Co. Inc. Sells 20,500 Shares of Confluent, Inc. $CFLT

Oppenheimer & Co. Inc. cut its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 22.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 71,005 shares of the company’s stock after selling 20,500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Confluent were worth $1,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Confluent during the second quarter worth $89,736,000. Atreides Management LP raised its position in Confluent by 82.0% during the 2nd quarter. Atreides Management LP now owns 3,012,215 shares of the company’s stock worth $75,095,000 after purchasing an additional 1,357,246 shares during the last quarter. Bienville Capital Management LLC lifted its holdings in Confluent by 275.9% during the 2nd quarter. Bienville Capital Management LLC now owns 1,267,195 shares of the company’s stock worth $31,591,000 after buying an additional 930,097 shares during the period. Optimus Prime Fund Management Co. Ltd. lifted its holdings in Confluent by 17.9% during the 2nd quarter. Optimus Prime Fund Management Co. Ltd. now owns 5,070,000 shares of the company’s stock worth $126,395,000 after buying an additional 770,000 shares during the period. Finally, Champlain Investment Partners LLC grew its position in shares of Confluent by 6.7% in the 2nd quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock valued at $288,939,000 after buying an additional 727,943 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Alyssa Henry sold 62,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,875,000.00. Following the transaction, the director directly owned 28,549 shares of the company’s stock, valued at $856,470. This represents a 68.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Ban Ryan Norris Mac sold 3,053 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $29.96, for a total value of $91,467.88. Following the completion of the transaction, the executive owned 332,679 shares in the company, valued at approximately $9,967,062.84. This represents a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,125,164 shares of company stock worth $32,844,721 over the last three months. Insiders own 9.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on Confluent from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Citizens Jmp downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. Stifel Nicolaus upped their price objective on shares of Confluent from $21.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, October 28th. Robert W. Baird lifted their target price on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 9th. Finally, Guggenheim lowered shares of Confluent from a “buy” rating to a “hold” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.71.

Confluent Stock Performance

NASDAQ:CFLT opened at $30.56 on Friday. The firm has a market capitalization of $10.69 billion, a P/E ratio of -35.53 and a beta of 0.95. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $36.25. The company has a fifty day moving average of $30.30 and a 200-day moving average of $24.08. The company has a quick ratio of 4.01, a current ratio of 3.83 and a debt-to-equity ratio of 0.94.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. During the same period last year, the company posted $0.09 earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Confluent Company 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.