Savant Capital LLC Purchases 39,576 Shares of Confluent, Inc. $CFLT

Savant Capital LLC grew its holdings in Confluent, Inc. (NASDAQ:CFLT) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416,137 shares of the company’s stock after purchasing an additional 39,576 shares during the quarter. Savant Capital LLC owned approximately 0.12% of Confluent worth $8,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFLT. Bank of Montreal Can grew its stake in shares of Confluent by 28.5% during the second quarter. Bank of Montreal Can now owns 261,007 shares of the company’s stock worth $6,507,000 after acquiring an additional 57,928 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Confluent by 655.7% during the second quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after buying an additional 211,360 shares during the period. Blair William & Co. IL grew its holdings in shares of Confluent by 8.6% during the second quarter. Blair William & Co. IL now owns 160,575 shares of the company’s stock valued at $4,003,000 after buying an additional 12,654 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of Confluent in the 2nd quarter valued at $10,250,000. Finally, Persistent Asset Partners Ltd acquired a new position in shares of Confluent in the 2nd quarter valued at $499,000. 78.09% of the stock is currently owned by institutional investors.

Confluent Price Performance

CFLT stock opened at $30.33 on Thursday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $37.90. The firm has a market capitalization of $10.61 billion, a PE ratio of -33.70 and a beta of 0.95. The business has a 50 day simple moving average of $29.20 and a 200-day simple moving average of $23.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01.

Insider Buying and Selling

In related news, Director Alyssa Henry sold 62,500 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total value of $1,875,000.00. Following the sale, the director owned 28,549 shares in the company, valued at approximately $856,470. The trade was a 68.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward Jay Kreps sold 506,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $30.04, for a total transaction of $15,200,240.00. Following the sale, the chief executive officer directly owned 339,367 shares in the company, valued at $10,194,584.68. This represents a 59.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,357,664 shares of company stock valued at $38,315,446 in the last ninety days. Company insiders own 9.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CFLT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Confluent in a research report on Monday, December 29th. Oppenheimer cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $31.00 target price on shares of Confluent in a report on Monday, December 8th. Mizuho downgraded shares of Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Finally, Piper Sandler lowered shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Confluent presently has a consensus rating of “Hold” and an average price target of $28.78.

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.