Xponance Inc. Raises Stake in Confluent, Inc. (NASDAQ:CFLT)

Xponance Inc. increased its stake in Confluent, Inc. (NASDAQ:CFLT) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,144 shares of the company’s stock after buying an additional 1,962 shares during the period. Xponance Inc.’s holdings in Confluent were worth $927,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Confluent during the 4th quarter valued at $59,000. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent in the 3rd quarter worth $68,000. GAMMA Investing LLC increased its stake in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after acquiring an additional 3,538 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $27.30 on Tuesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market cap of $9.12 billion, a PE ratio of -25.28 and a beta of 0.90. The company’s 50 day moving average is $29.47 and its 200 day moving average is $27.08.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Confluent

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the sale, the director now owns 292,079 shares in the company, valued at approximately $10,579,101.38. This represents a 7.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Kong Phan sold 3,175 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the transaction, the chief accounting officer now owns 246,516 shares of the company’s stock, valued at approximately $6,621,419.76. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,200,746 shares of company stock worth $38,505,150 over the last quarter. 13.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several recent research reports. Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Confluent in a research report on Friday, March 7th. Finally, UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $38.00 in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.