LA Financiere DE L Echiquier grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT – Get Rating) by 51.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500,000 shares of the company’s stock after purchasing an additional 170,000 shares during the period. LA Financiere DE L Echiquier owned 0.17% of Confluent worth $11,120,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its holdings in shares of Confluent by 23.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 61,920 shares of the company’s stock worth $1,472,000 after purchasing an additional 11,770 shares during the period. Coatue Management LLC raised its holdings in shares of Confluent by 60.5% during the third quarter. Coatue Management LLC now owns 1,372,773 shares of the company’s stock worth $32,631,000 after purchasing an additional 517,458 shares during the period. Barclays PLC raised its holdings in shares of Confluent by 6.4% during the third quarter. Barclays PLC now owns 243,065 shares of the company’s stock worth $5,778,000 after purchasing an additional 14,634 shares during the period. UMB Bank n.a. raised its holdings in shares of Confluent by 703.5% during the fourth quarter. UMB Bank n.a. now owns 1,856 shares of the company’s stock worth $41,000 after purchasing an additional 1,625 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Confluent during the fourth quarter worth about $22,235,000. 40.66% of the stock is owned by institutional investors and hedge funds.
Confluent Trading Down 0.5 %
Shares of CFLT traded down $0.11 during midday trading on Monday, hitting $22.71. The stock had a trading volume of 273,841 shares, compared to its average volume of 3,664,630. Confluent, Inc. has a fifty-two week low of $16.48 and a fifty-two week high of $34.39. The business has a 50-day simple moving average of $22.89 and a two-hundred day simple moving average of $22.90. The firm has a market cap of $6.61 billion, a P/E ratio of -13.27 and a beta of 0.94. The company has a current ratio of 5.27, a quick ratio of 5.27 and a debt-to-equity ratio of 1.46.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Moffett Nathanson assumed coverage on shares of Confluent in a report on Monday, February 13th. They issued an “outperform” rating and a $36.00 price objective on the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Confluent in a report on Monday, March 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Confluent from $29.00 to $27.00 in a report on Friday, May 5th. Barclays dropped their price objective on shares of Confluent from $29.00 to $26.00 in a report on Thursday, May 4th. Finally, Cowen dropped their price objective on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, January 31st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.53.
Insiders Place Their Bets
In other Confluent news, CTO Chad Verbowski sold 5,949 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $22.58, for a total value of $134,328.42. Following the completion of the transaction, the chief technology officer now directly owns 460,646 shares in the company, valued at $10,401,386.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CTO Chad Verbowski sold 5,949 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $22.58, for a total transaction of $134,328.42. Following the completion of the sale, the chief technology officer now directly owns 460,646 shares in the company, valued at $10,401,386.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Stephanie Buscemi sold 53,223 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $27.82, for a total transaction of $1,480,663.86. Following the sale, the chief marketing officer now owns 40,057 shares of the company’s stock, valued at $1,114,385.74. The disclosure for this sale can be found here. Insiders sold a total of 1,168,841 shares of company stock worth $28,209,188 over the last ninety days. 27.94% of the stock is currently owned by company insiders.
Confluent Company Profile
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.