Confluent, Inc. (NASDAQ:CFLT) Stock Holdings Boosted by Stifel Financial Corp

Stifel Financial Corp increased its position in Confluent, Inc. (NASDAQ:CFLT) by 112.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,339 shares of the company’s stock after acquiring an additional 21,864 shares during the period. Stifel Financial Corp’s holdings in Confluent were worth $842,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CFLT. Point72 Hong Kong Ltd bought a new position in shares of Confluent in the third quarter worth $68,000. Acadian Asset Management LLC bought a new stake in Confluent in the second quarter worth about $175,000. Plato Investment Management Ltd lifted its holdings in Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after acquiring an additional 6,312 shares during the last quarter. Centaurus Financial Inc. boosted its position in shares of Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new position in shares of Confluent in the 2nd quarter worth approximately $238,000. 78.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CFLT. Mizuho increased their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Royal Bank of Canada upped their target price on Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Baird R W upgraded Confluent to a “hold” rating in a research report on Wednesday, September 4th. UBS Group boosted their price objective on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average target price of $32.23.

Insider Transactions at Confluent

In other Confluent news, CAO Kong Phan sold 2,096 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the completion of the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. This represents a 1.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Stephanie Buscemi sold 164,123 shares of Confluent stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $26.24, for a total transaction of $4,306,587.52. Following the completion of the transaction, the chief marketing officer now owns 149,644 shares of the company’s stock, valued at $3,926,658.56. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,584,712 shares of company stock valued at $132,928,936 in the last quarter. 13.82% of the stock is currently owned by company insiders.

Confluent Trading Up 0.2 %

NASDAQ CFLT opened at $30.01 on Wednesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The business’s fifty day moving average is $27.92 and its 200 day moving average is $24.81. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -27.04 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, sell-side analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

About Confluent

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.