LMR Partners LLP Has $414,000 Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

LMR Partners LLP lowered its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 88.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,318 shares of the company’s stock after selling 159,364 shares during the quarter. LMR Partners LLP’s holdings in Confluent were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Confluent by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after buying an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after acquiring an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Confluent by 28.4% during the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after purchasing an additional 1,684,100 shares during the last quarter. William Blair Investment Management LLC bought a new position in Confluent in the second quarter valued at approximately $193,403,000. Finally, Bank of New York Mellon Corp increased its position in shares of Confluent by 60.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after purchasing an additional 1,316,804 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CFLT has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Evercore ISI decreased their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Robert W. Baird lifted their price target on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price target on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average target price of $30.88.

Insider Transactions at Confluent

In other Confluent news, Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,308,766 shares of company stock valued at $90,381,635. Company insiders own 13.82% of the company’s stock.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $28.29 on Wednesday. The business has a fifty day moving average price of $22.72 and a two-hundred day moving average price of $24.55. The stock has a market capitalization of $9.28 billion, a PE ratio of -25.49 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Confluent 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.