Cwm LLC Buys 2,137 Shares of Confluent, Inc. (NASDAQ:CFLT)

Cwm LLC boosted its stake in shares of Confluent, Inc. (NASDAQ:CFLTGet Rating) by 10,685.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,157 shares of the company’s stock after buying an additional 2,137 shares during the quarter. Cwm LLC’s holdings in Confluent were worth $51,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Confluent by 720.4% during the first quarter. Bank of New York Mellon Corp now owns 272,441 shares of the company’s stock worth $11,170,000 after acquiring an additional 239,232 shares during the period. Bank of Montreal Can increased its holdings in Confluent by 3,176.6% during the 1st quarter. Bank of Montreal Can now owns 149,968 shares of the company’s stock worth $6,215,000 after purchasing an additional 145,391 shares during the period. Great West Life Assurance Co. Can bought a new stake in Confluent during the 1st quarter valued at $5,322,000. Dimensional Fund Advisors LP purchased a new stake in shares of Confluent in the 1st quarter worth $507,000. Finally, Blair William & Co. IL grew its position in shares of Confluent by 13.1% during the 1st quarter. Blair William & Co. IL now owns 19,335 shares of the company’s stock worth $793,000 after buying an additional 2,235 shares in the last quarter. 40.66% of the stock is owned by hedge funds and other institutional investors.

Confluent Stock Down 4.9 %

NASDAQ:CFLT opened at $20.20 on Friday. The company has a current ratio of 5.74, a quick ratio of 5.74 and a debt-to-equity ratio of 1.38. Confluent, Inc. has a twelve month low of $16.48 and a twelve month high of $81.11. The company has a market cap of $5.79 billion, a PE ratio of -12.10 and a beta of 1.01. The company’s 50 day moving average is $21.71 and its two-hundred day moving average is $24.57.

Confluent (NASDAQ:CFLTGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.40) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.40). The firm had revenue of $151.73 million for the quarter, compared to analyst estimates of $144.39 million. Confluent had a negative net margin of 85.83% and a negative return on equity of 55.60%. Analysts anticipate that Confluent, Inc. will post -1.62 EPS for the current year.

Insider Activity at Confluent

In other Confluent news, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $23.01, for a total transaction of $3,233,158.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Confluent news, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $23.01, for a total transaction of $3,233,158.11. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steffan Tomlinson sold 15,393 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $25.00, for a total value of $384,825.00. Following the completion of the transaction, the chief financial officer now directly owns 106,407 shares of the company’s stock, valued at approximately $2,660,175. The disclosure for this sale can be found here. Insiders have sold a total of 829,987 shares of company stock worth $18,552,363 over the last quarter. Insiders own 27.94% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several research reports. Credit Suisse Group cut their price target on Confluent from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Barclays raised shares of Confluent from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $27.00 to $24.00 in a research report on Tuesday, January 10th. FBN Securities started coverage on shares of Confluent in a research note on Tuesday. They set an “outperform” rating and a $30.00 price objective on the stock. DA Davidson cut their price objective on shares of Confluent from $44.00 to $33.00 in a report on Thursday, November 3rd. Finally, Morgan Stanley lowered their target price on Confluent from $35.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, December 19th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.25.

Confluent Company Profile

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

Further Reading

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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