Intellectus Partners LLC Has $816,000 Stock Position in Confluent, Inc. $CFLT

Intellectus Partners LLC lowered its position in Confluent, Inc. (NASDAQ:CFLT) by 29.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,200 shares of the company’s stock after selling 17,277 shares during the quarter. Intellectus Partners LLC’s holdings in Confluent were worth $816,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Confluent during the 3rd quarter worth about $36,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Confluent in the 2nd quarter valued at approximately $49,000. Jones Financial Companies Lllp grew its stake in shares of Confluent by 250.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after buying an additional 2,481 shares in the last quarter. Rothschild Investment LLC increased its holdings in Confluent by 110,016.7% in the third quarter. Rothschild Investment LLC now owns 6,607 shares of the company’s stock worth $131,000 after buying an additional 6,601 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Confluent by 767.8% during the third quarter. EverSource Wealth Advisors LLC now owns 6,673 shares of the company’s stock valued at $132,000 after acquiring an additional 5,904 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In related news, CEO Edward Jay Kreps sold 270,207 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $30.70, for a total value of $8,295,354.90. Following the transaction, the chief executive officer directly owned 301,660 shares in the company, valued at approximately $9,260,962. This trade represents a 47.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rohan Sivaram sold 21,503 shares of Confluent 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 completion of the transaction, the chief financial officer owned 561,966 shares in the company, valued at $17,252,356.20. This trade represents a 3.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,501,830 shares of company stock worth $45,389,931 in the last quarter. 9.20% of the stock is owned by corporate insiders.

Confluent Stock Down 0.1%

CFLT opened at $30.77 on Friday. 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. The business has a 50 day moving average price of $30.50 and a 200 day moving average price of $25.43. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $30.81.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CFLT shares. Needham & Company LLC cut shares of Confluent from a “buy” rating to a “hold” rating in a research note on Monday, December 8th. William Blair lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Citigroup raised their price target on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 9th. 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 research note on Tuesday, December 9th. Finally, Wolfe Research cut shares of Confluent from an “outperform” rating to a “hold” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.71.

Confluent 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.