Exane Asset Management Purchases 219,577 Shares of Confluent, Inc. $CFLT

Exane Asset Management lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 285,164.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 219,654 shares of the company’s stock after acquiring an additional 219,577 shares during the period. Confluent accounts for about 1.6% of Exane Asset Management’s investment portfolio, making the stock its 11th biggest holding. Exane Asset Management’s holdings in Confluent were worth $4,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in Confluent by 133.0% during the first quarter. Goldman Sachs Group Inc. now owns 942,303 shares of the company’s stock valued at $22,088,000 after buying an additional 537,874 shares during the period. Woodline Partners LP bought a new stake in Confluent during the first quarter worth about $332,000. Farther Finance Advisors LLC boosted its stake in Confluent by 252.3% during the second quarter. Farther Finance Advisors LLC now owns 1,448 shares of the company’s stock worth $36,000 after acquiring an additional 1,037 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Confluent by 12.7% in the second quarter. Public Employees Retirement System of Ohio now owns 85,941 shares of the company’s stock worth $2,143,000 after purchasing an additional 9,711 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in shares of Confluent during the second quarter valued at approximately $7,993,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CFLT has been the topic of several recent research reports. Truist Financial set a $31.00 price target on Confluent in a research note on Monday, December 8th. FBN Securities reissued an “outperform” rating and issued a $28.00 target price on shares of Confluent in a report on Tuesday, October 28th. Evercore ISI set a $31.00 price target on Confluent in a report on Monday, December 8th. Guggenheim cut shares of Confluent from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Finally, Stifel Nicolaus increased their price objective on shares of Confluent from $21.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.78.

Confluent Trading Up 0.0%

Confluent stock opened at $30.54 on Wednesday. Confluent, Inc. has a one year low of $15.64 and a one year high of $37.90. The business’s fifty day moving average is $28.14 and its 200 day moving average is $23.64. The stock has a market capitalization of $10.68 billion, a PE ratio of -33.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01.

Confluent (NASDAQ:CFLT) last posted its earnings results on Monday, October 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $298.52 million for the quarter, compared to analysts’ expectations of $292.69 million. Confluent had a negative net margin of 27.32% and a negative return on equity of 25.40%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. On average, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Confluent

In other Confluent news, CRO Ban Ryan Norris Mac sold 3,053 shares of Confluent stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $29.96, for a total value of $91,467.88. Following the completion of the sale, the executive owned 332,679 shares of the company’s stock, valued at approximately $9,967,062.84. The trade was a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $30.10, for a total transaction of $6,998,250.00. Following the sale, the chief executive officer owned 339,367 shares of the company’s stock, valued at approximately $10,214,946.70. This represents a 40.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,387,664 shares of company stock valued at $39,022,546. Company insiders own 13.82% of the company’s stock.

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.