Great West Life Assurance Co. Can Buys New Stake in Confluent, Inc. (NASDAQ:CFLT)

Great West Life Assurance Co. Can bought a new stake in Confluent, Inc. (NASDAQ:CFLTGet Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 171,735 shares of the company’s stock, valued at approximately $4,082,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. purchased a new position in Confluent in the 2nd quarter valued at approximately $41,000. Ieq Capital LLC boosted its position in Confluent by 12.2% in the 2nd quarter. Ieq Capital LLC now owns 137,100 shares of the company’s stock valued at $3,186,000 after buying an additional 14,902 shares during the period. Clay Northam Wealth Management LLC purchased a new position in Confluent in the 2nd quarter valued at approximately $552,000. State Board of Administration of Florida Retirement System purchased a new position in Confluent in the 2nd quarter valued at approximately $1,165,000. Finally, Focused Wealth Management Inc boosted its position in Confluent by 101.8% in the 2nd quarter. Focused Wealth Management Inc now owns 1,725 shares of the company’s stock valued at $40,000 after buying an additional 870 shares during the period. Institutional investors and hedge funds own 40.66% of the company’s stock.

Insider Activity at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $22.47, for a total transaction of $5,224,275.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Chad Verbowski sold 9,441 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the completion of the transaction, the senior vice president now owns 338,391 shares of the company’s stock, valued at $6,805,043.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $22.47, for a total transaction of $5,224,275.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 829,987 shares of company stock valued at $18,552,363. Company insiders own 27.94% of the company’s stock.

Confluent Stock Performance

Shares of CFLT opened at $21.45 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -12.84 and a beta of 1.02. The company’s 50 day simple moving average is $21.66 and its 200 day simple moving average is $24.52. Confluent, Inc. has a 1 year low of $16.48 and a 1 year high of $81.11.

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

Wall Street Analyst Weigh In

CFLT has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Confluent from $35.00 to $30.00 in a research report on Monday, January 9th. Wells Fargo & Company reduced their price target on shares of Confluent from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, January 6th. Credit Suisse Group reduced their price target on shares of Confluent from $65.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Citigroup reduced their price target on shares of Confluent from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Confluent from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

About Confluent

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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.

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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