Confluent, Inc. (NASDAQ:CFLT) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Confluent, Inc. (NASDAQ:CFLT) by 85.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,467 shares of the company’s stock after buying an additional 1,136 shares during the quarter. GAMMA Investing LLC’s holdings in Confluent were worth $69,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Confluent in the third quarter valued at $68,000. Acadian Asset Management LLC acquired a new stake in shares of Confluent during the second quarter worth $175,000. Plato Investment Management Ltd raised its position in shares of Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after purchasing an additional 6,312 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Confluent during the third quarter valued at $214,000. Finally, Centaurus Financial Inc. boosted its position in shares of Confluent by 109.2% in 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 during the period. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Down 3.6 %

CFLT stock opened at $27.64 on Monday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -24.90 and a beta of 0.91. The company has a 50-day moving average of $29.60 and a two-hundred day moving average of $24.98. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Scotiabank upped their price objective on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. DA Davidson reissued a “buy” rating and set a $30.00 target price on shares of Confluent in a research note on Wednesday, September 18th. Piper Sandler raised their target price on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Truist Financial upped their price target on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $32.46.

Insider Activity

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10. Following the completion of the sale, the director now owns 12,559 shares in the company, valued at approximately $362,955.10. This trade represents a 98.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kong Phan sold 2,096 shares of Confluent stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the sale, the chief accounting officer now directly owns 190,680 shares in the company, valued at approximately $5,382,896.40. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,584,712 shares of company stock valued at $132,928,936. 13.82% of the stock is owned by company insiders.

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.