Oppenheimer & Co. Inc. Increases Stake in Confluent, Inc. (NASDAQ:CFLT)

Oppenheimer & Co. Inc. grew its stake in Confluent, Inc. (NASDAQ:CFLTFree Report) by 111.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,426 shares of the company’s stock after purchasing an additional 12,860 shares during the period. Oppenheimer & Co. Inc.’s holdings in Confluent were worth $723,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Credit Suisse AG boosted its stake in shares of Confluent by 1.7% in the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock valued at $495,000 after buying an additional 362 shares in the last quarter. Avestar Capital LLC boosted its position in Confluent by 3.3% during the third quarter. Avestar Capital LLC now owns 11,466 shares of the company’s stock worth $340,000 after purchasing an additional 370 shares in the last quarter. Profund Advisors LLC boosted its position in Confluent by 1.6% during the second quarter. Profund Advisors LLC now owns 25,341 shares of the company’s stock worth $895,000 after purchasing an additional 388 shares in the last quarter. Xponance Inc. boosted its position in Confluent by 1.7% during the third quarter. Xponance Inc. now owns 26,427 shares of the company’s stock worth $783,000 after purchasing an additional 440 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Confluent by 22.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,669 shares of the company’s stock worth $94,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 59.30% of the company’s stock.

Insider Activity

In other Confluent news, insider Erica Schultz sold 50,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.28, for a total value of $964,000.00. Following the transaction, the insider now owns 479,537 shares in the company, valued at $9,245,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Confluent news, insider Erica Schultz sold 50,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $19.28, for a total value of $964,000.00. Following the completion of the sale, the insider now owns 479,537 shares of the company’s stock, valued at $9,245,473.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $25.24, for a total value of $5,868,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 439,216 shares of company stock worth $10,241,051. 22.08% of the stock is owned by corporate insiders.

Confluent Stock Performance

Shares of CFLT stock opened at $31.72 on Friday. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $41.22. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of -21.58 and a beta of 0.69. The stock’s fifty day simple moving average is $23.53 and its 200-day simple moving average is $26.86.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CFLT shares. Royal Bank of Canada boosted their target price on Confluent from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays boosted their target price on Confluent from $26.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley cut their price target on Confluent from $40.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Canaccord Genuity Group cut Confluent from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Thursday, November 2nd. Finally, Wells Fargo & Company boosted their price target on Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.42.

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About Confluent

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

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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