Creative Planning Purchases 49,699 Shares of Confluent, Inc. (NASDAQ:CFLT)

Creative Planning grew its position in Confluent, Inc. (NASDAQ:CFLT) by 109.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,939 shares of the company’s stock after acquiring an additional 49,699 shares during the period. Creative Planning’s holdings in Confluent were worth $1,935,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CFLT. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Confluent by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,352 shares of the company’s stock worth $804,000 after buying an additional 1,062 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Confluent during the 1st quarter worth about $639,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Confluent by 1.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 366,116 shares of the company’s stock worth $11,174,000 after buying an additional 5,362 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Confluent by 920.4% during the 1st quarter. Principal Financial Group Inc. now owns 194,960 shares of the company’s stock worth $5,950,000 after buying an additional 175,853 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Confluent by 129.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 32,617 shares of the company’s stock worth $995,000 after buying an additional 18,391 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Activity at Confluent

In other Confluent news, CTO Chad Verbowski sold 13,540 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the sale, the chief technology officer now directly owns 496,807 shares of the company’s stock, valued at $10,770,775.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Confluent news, CTO Chad Verbowski sold 13,540 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $293,547.20. Following the sale, the chief technology officer now directly owns 496,807 shares of the company’s stock, valued at $10,770,775.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 524,453 shares of company stock valued at $10,833,388. 13.82% of the stock is owned by insiders.

Confluent Trading Up 0.3 %

Shares of Confluent stock opened at $22.60 on Tuesday. The firm has a market capitalization of $7.18 billion, a PE ratio of -18.08 and a beta of 0.88. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The firm’s 50 day moving average is $20.79 and its 200 day moving average is $24.73. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CFLT shares. Bank of America cut their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. TD Cowen dropped their price objective on shares of Confluent from $31.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, September 20th. DA Davidson reiterated a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research note on Wednesday, September 18th. Truist Financial reiterated a “buy” rating and issued a $30.00 price objective (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Finally, Stifel Nicolaus dropped their price objective on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.79.

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.