Rock Point Advisors LLC Buys 60,975 Shares of Confluent, Inc. $CFLT

Rock Point Advisors LLC increased its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 62.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,367 shares of the company’s stock after acquiring an additional 60,975 shares during the period. Rock Point Advisors LLC’s holdings in Confluent were worth $3,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CFLT. True Wealth Design LLC bought a new position in Confluent during the 3rd quarter worth about $36,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Confluent during the second quarter worth about $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Confluent during the second quarter worth about $67,000. Jones Financial Companies Lllp grew its holdings in shares of 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, AlphaQuest LLC grew its holdings in shares of Confluent by 21.7% during the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after buying an additional 826 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, Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $764,750.00. Following the completion of the transaction, the director owned 155,512 shares in the company, valued at approximately $4,757,112.08. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Ban Ryan Norris Mac sold 19,756 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $30.66, for a total value of $605,718.96. Following the transaction, the executive directly owned 358,890 shares in the company, valued at approximately $11,003,567.40. This trade represents a 5.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,501,830 shares of company stock worth $45,389,931 in the last three months. Insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CFLT. William Blair cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Sanford C. Bernstein downgraded shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a report on Friday, January 23rd. Citizens Jmp lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. Canaccord Genuity Group cut shares of Confluent from a “buy” rating to a “hold” rating and increased their target price for the stock from $27.00 to $31.00 in a report on Monday, December 8th. Finally, Royal Bank Of Canada downgraded shares of Confluent from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $30.00 to $31.00 in a research report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.71.

Confluent Price Performance

Shares of CFLT opened at $30.75 on Wednesday. The company has a market cap of $11.00 billion, a price-to-earnings ratio of -35.76 and a beta of 0.95. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $32.63. The company’s fifty day simple moving average is $30.46 and its 200 day simple moving average is $25.21. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.94.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating 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 firm had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. During the same quarter last year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.