Confluent, Inc. (NASDAQ:CFLT) Stock Position Raised by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 22,112.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,554 shares of the company’s stock after buying an additional 3,538 shares during the period. AlphaQuest LLC’s holdings in Confluent were worth $99,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EP Wealth Advisors LLC boosted its position in shares of Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after buying an additional 503 shares during the period. Truist Financial Corp increased its stake in shares of Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after purchasing an additional 514 shares during the period. GAMMA Investing LLC increased its stake in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in Confluent by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock worth $472,000 after buying an additional 1,137 shares in the last quarter. Finally, Assetmark Inc. grew its position in Confluent by 4.3% during the fourth quarter. Assetmark Inc. now owns 38,500 shares of the company’s stock worth $1,076,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Performance

CFLT stock opened at $26.36 on Wednesday. The company has a market cap of $8.80 billion, a P/E ratio of -24.41 and a beta of 0.90. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $29.56 and its 200-day moving average is $26.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lifted their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler lifted their price objective on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Scotiabank upped their price objective on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Loop Capital lowered their price objective on Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Insiders Place Their Bets

In other news, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $13,285,047.68. The trade was a 33.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,201,518 shares of company stock worth $38,533,306. Corporate insiders own 13.82% of the company’s stock.

Confluent Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.