Vanguard Group Inc. Increases Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Vanguard Group Inc. increased its holdings in Confluent, Inc. (NASDAQ:CFLTFree Report) by 13.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,424,394 shares of the company’s stock after purchasing an additional 2,125,843 shares during the period. Vanguard Group Inc. owned 5.98% of Confluent worth $545,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Altimeter Capital Management LP grew its position in shares of Confluent by 11.5% in the first quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock valued at $348,818,000 after purchasing an additional 1,496,443 shares during the period. Price T Rowe Associates Inc. MD grew its position in Confluent by 18.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock valued at $300,320,000 after acquiring an additional 1,938,668 shares during the period. BlackRock Inc. grew its position in Confluent by 1.0% during the third quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after acquiring an additional 78,339 shares during the period. Durable Capital Partners LP grew its position in Confluent by 6.8% during the first quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock valued at $300,496,000 after acquiring an additional 465,214 shares during the period. Finally, 1832 Asset Management L.P. grew its position in Confluent by 1,059.4% during the second quarter. 1832 Asset Management L.P. now owns 6,354,800 shares of the company’s stock valued at $224,388,000 after acquiring an additional 5,806,700 shares during the period. Hedge funds and other institutional investors own 59.30% of the company’s stock.

Insider Buying and Selling

In related news, CTO Chad Verbowski sold 5,963 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $191,710.45. Following the sale, the chief technology officer now owns 404,412 shares of the company’s stock, valued at approximately $13,001,845.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $32.46, for a total value of $7,546,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chad Verbowski sold 5,963 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $191,710.45. Following the completion of the sale, the chief technology officer now owns 404,412 shares in the company, valued at $13,001,845.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. Insiders own 22.08% of the company’s stock.

Confluent Trading Down 2.6 %

NASDAQ:CFLT opened at $30.96 on Friday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $29.09 and its two-hundred day moving average is $26.64. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $41.22. The company has a market cap of $9.68 billion, a PE ratio of -21.06 and a beta of 0.95.

Confluent (NASDAQ:CFLTGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. On average, analysts predict that Confluent, Inc. will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CFLT. Barclays boosted their price target on Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Loop Capital initiated coverage on Confluent in a research report on Tuesday, January 30th. They issued a “hold” rating and a $23.00 target price for the company. The Goldman Sachs Group increased their target price on Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Scotiabank increased their target price on Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, UBS Group increased their target price on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.92.

Get Our Latest Analysis on Confluent

About Confluent

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Confluent, Inc. (NASDAQ:CFLTFree Report).

Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

Receive News & Ratings for Confluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Confluent and related companies with MarketBeat.com's FREE daily email newsletter.