Confluent, Inc. (NASDAQ:CFLT) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL increased its holdings in Confluent, Inc. (NASDAQ:CFLT) by 149.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 44,375 shares of the company’s stock after acquiring an additional 26,575 shares during the period. Blair William & Co. IL’s holdings in Confluent were worth $1,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Confluent in the 1st quarter valued at about $26,000. Quest Partners LLC purchased a new stake in shares of Confluent in the 4th quarter valued at approximately $31,000. V Square Quantitative Management LLC acquired a new stake in Confluent in the second quarter valued at $68,000. UniSuper Management Pty Ltd raised its position in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CFLT. Scotiabank decreased their price objective on Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Robert W. Baird began coverage on shares of Confluent in a research report on Wednesday, September 4th. They set a “neutral” rating and a $23.00 price objective for the company. JPMorgan Chase & Co. raised shares of Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, TD Cowen lowered their price objective on Confluent from $31.00 to $27.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.97.

Insider Transactions at Confluent

In related news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lara Caimi sold 9,375 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the transaction, the director now directly owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the sale, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,263 shares of company stock valued at $10,829,566. 13.82% of the stock is owned by corporate insiders.

Confluent Stock Performance

NASDAQ:CFLT opened at $19.69 on Tuesday. The firm has a market capitalization of $6.26 billion, a PE ratio of -15.75 and a beta of 0.88. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07. 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 fifty day simple moving average is $21.71 and its 200 day simple moving average is $26.52.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.95 EPS for the current 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.