Phoenix Financial Ltd. Has $29.13 Million Stake in Confluent, Inc. $CFLT

Phoenix Financial Ltd. cut its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,471,222 shares of the company’s stock after selling 56,418 shares during the quarter. Phoenix Financial Ltd. owned approximately 0.42% of Confluent worth $29,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LBP AM SA raised its position in shares of Confluent by 13.3% during the third quarter. LBP AM SA now owns 1,251,413 shares of the company’s stock worth $24,778,000 after acquiring an additional 146,713 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new position in Confluent during the 3rd quarter worth approximately $211,000. Inspire Advisors LLC acquired a new position in shares of Confluent in the 3rd quarter worth approximately $2,106,000. Amalgamated Bank boosted its stake in shares of Confluent by 9.9% in the 3rd quarter. Amalgamated Bank now owns 21,894 shares of the company’s stock valued at $434,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Confluent during the third quarter worth $135,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of several recent analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $31.00 target price on shares of Confluent in a report on Monday, December 8th. Piper Sandler downgraded shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Monday, December 8th. Stephens raised their price target on shares of Confluent from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Canaccord Genuity Group lowered shares of Confluent from a “buy” rating to a “hold” rating and upped their price objective for the company from $27.00 to $31.00 in a report on Monday, December 8th. Finally, The Goldman Sachs Group raised their target price on Confluent from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.78.

Confluent Price Performance

CFLT stock opened at $30.53 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 4.01 and a current ratio of 4.01. The business has a 50-day simple moving average of $27.98 and a two-hundred day simple moving average of $23.59. The company has a market capitalization of $10.68 billion, a P/E ratio of -33.92 and a beta of 0.95. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT) last posted its earnings results on Monday, October 27th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Confluent had a negative return on equity of 25.40% and a negative net margin of 27.32%.The company had revenue of $298.52 million for the quarter, compared to analyst estimates of $292.69 million. During the same quarter last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, Director Michelangelo Volpi sold 32,038 shares of Confluent stock in a transaction on Monday, December 8th. The shares were sold at an average price of $29.77, for a total transaction of $953,771.26. Following the transaction, the director directly owned 235,041 shares of the company’s stock, valued at $6,997,170.57. The trade was a 12.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alyssa Henry sold 62,500 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $30.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director owned 28,549 shares of the company’s stock, valued at approximately $856,470. This represents a 68.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,455,620 shares of company stock worth $40,630,407. 13.82% of the stock is currently owned by insiders.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.