Quantbot Technologies LP Takes $1.12 Million Position in Confluent, Inc. $CFLT

Quantbot Technologies LP purchased a new position in Confluent, Inc. (NASDAQ:CFLT) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 56,683 shares of the company’s stock, valued at approximately $1,122,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFLT. Vanguard Group Inc. grew its position in Confluent by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock valued at $620,675,000 after acquiring an additional 2,970,708 shares during the last quarter. Champlain Investment Partners LLC increased its stake in Confluent by 6.7% in the second quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock worth $288,939,000 after purchasing an additional 727,943 shares during the period. Franklin Resources Inc. lifted its position in shares of Confluent by 1.7% during the second quarter. Franklin Resources Inc. now owns 8,592,443 shares of the company’s stock worth $214,210,000 after purchasing an additional 143,232 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Confluent by 12.5% during the second quarter. Geode Capital Management LLC now owns 5,235,819 shares of the company’s stock valued at $130,551,000 after purchasing an additional 583,219 shares during the period. Finally, Optimus Prime Fund Management Co. Ltd. grew its holdings in shares of Confluent by 17.9% in the second quarter. Optimus Prime Fund Management Co. Ltd. now owns 5,070,000 shares of the company’s stock worth $126,395,000 after purchasing an additional 770,000 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 9th. William Blair lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Canaccord Genuity Group lowered Confluent from a “buy” rating to a “hold” rating and boosted their price target for the company from $27.00 to $31.00 in a report on Monday, December 8th. Mizuho cut Confluent from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Citigroup raised their price objective on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.71.

Insider Buying and Selling at Confluent

In other Confluent news, CFO Rohan Sivaram sold 21,503 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $660,142.10. Following the sale, the chief financial officer owned 561,966 shares of the company’s stock, valued at approximately $17,252,356.20. This trade represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 2,277 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total value of $69,903.90. Following the completion of the transaction, the chief accounting officer directly owned 218,228 shares of the company’s stock, valued at approximately $6,699,599.60. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,501,830 shares of company stock worth $45,389,931. 9.20% of the stock is currently owned by company insiders.

Confluent Trading Down 0.1%

NASDAQ:CFLT opened at $30.77 on Friday. The firm has a 50-day simple moving average of $30.50 and a 200-day simple moving average of $25.38. Confluent, Inc. has a one year low of $15.64 and a one year high of $30.81. The firm has a market cap of $11.00 billion, a P/E ratio of -35.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Confluent Company Profile

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.