APG Asset Management N.V. Acquires 19,800 Shares of Confluent, Inc. (NASDAQ:CFLT)

APG Asset Management N.V. boosted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 233.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,284 shares of the company’s stock after purchasing an additional 19,800 shares during the quarter. APG Asset Management N.V.’s holdings in Confluent were worth $779,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CFLT. Hsbc Holdings PLC raised its holdings in Confluent by 35.9% in the 4th quarter. Hsbc Holdings PLC now owns 152,061 shares of the company’s stock valued at $3,566,000 after acquiring an additional 40,158 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Confluent by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 82,082 shares of the company’s stock worth $1,921,000 after purchasing an additional 800 shares during the period. Bank of Nova Scotia acquired a new stake in Confluent during the fourth quarter worth about $698,000. California State Teachers Retirement System increased its holdings in Confluent by 5.2% in the 4th quarter. California State Teachers Retirement System now owns 251,429 shares of the company’s stock valued at $5,883,000 after buying an additional 12,350 shares during the period. Finally, KBC Group NV increased its holdings in Confluent by 37,471.7% in the 4th quarter. KBC Group NV now owns 86,415 shares of the company’s stock valued at $2,022,000 after buying an additional 86,185 shares during the period. Institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Chad Verbowski sold 13,540 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $293,547.20. Following the sale, the chief technology officer now owns 496,807 shares in the company, valued at approximately $10,770,775.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Confluent news, insider Erica Schultz sold 9,556 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $207,174.08. Following the completion of the sale, the insider now directly owns 687,483 shares in the company, valued at $14,904,631.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chad Verbowski sold 13,540 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the transaction, the chief technology officer now owns 496,807 shares in the company, valued at approximately $10,770,775.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 524,453 shares of company stock worth $10,833,388. Company insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 price target on the stock in a research report on Friday, August 9th. Canaccord Genuity Group reduced their target price on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Confluent in a report on Monday, September 23rd. Guggenheim reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Confluent in a research note on Tuesday, June 25th. Finally, Baird R W upgraded Confluent to a “hold” rating in a research report on Wednesday, September 4th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average price target of $29.97.

Confluent Stock Performance

Shares of CFLT stock opened at $18.90 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. Confluent, Inc. has a one year low of $14.69 and a one year high of $35.07. The business’s 50 day simple moving average is $20.91 and its 200 day simple moving average is $25.92. The stock has a market capitalization of $6.01 billion, a PE ratio of -15.12 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The firm had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. As a group, research analysts forecast that Confluent, Inc. will post -0.95 earnings per share for the current year.

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.