Janus Henderson Group PLC Buys 92,058 Shares of Confluent, Inc. (NASDAQ:CFLT)

Janus Henderson Group PLC boosted its stake in Confluent, Inc. (NASDAQ:CFLT) by 873.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,600 shares of the company’s stock after purchasing an additional 92,058 shares during the period. Janus Henderson Group PLC’s holdings in Confluent were worth $2,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after purchasing an additional 1,113 shares during the last quarter. Truist Financial Corp lifted its stake in Confluent by 5.3% in the 2nd quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock valued at $721,000 after purchasing an additional 1,238 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Confluent by 8.4% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock valued at $551,000 after purchasing an additional 1,448 shares during the last quarter. CWM LLC lifted its stake in Confluent by 17.6% in the 2nd quarter. CWM LLC now owns 10,099 shares of the company’s stock valued at $298,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Confluent by 14.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,800 shares of the company’s stock valued at $408,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Trading Up 0.4 %

NASDAQ:CFLT opened at $31.32 on Friday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of -28.22 and a beta of 0.88. The firm has a fifty day simple moving average of $26.66 and a two-hundred day simple moving average of $24.72. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Sanford C. Bernstein dropped their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Evercore ISI dropped their price target on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Scotiabank raised their price target on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, Truist Financial raised their price target on shares of Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.88.

Insider Transactions at Confluent

In other news, CMO Stephanie Buscemi sold 164,123 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the sale, the chief marketing officer now directly owns 149,644 shares of the company’s stock, valued at $3,926,658.56. This represents a 52.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kong Phan sold 2,096 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the completion of the sale, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,533,995 shares of company stock valued at $131,348,784 over the last ninety days. 13.82% of the stock is currently owned by insiders.

Confluent Profile

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.