Penserra Capital Management LLC Has $3.99 Million Stock Holdings in Confluent, Inc. $CFLT

Penserra Capital Management LLC boosted its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 49.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 201,364 shares of the company’s stock after buying an additional 66,676 shares during the period. Penserra Capital Management LLC’s holdings in Confluent were worth $3,986,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Confluent during the third quarter worth about $36,000. Elevation Point Wealth Partners LLC bought a new position in Confluent during the second quarter worth $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Confluent in the second quarter valued at $67,000. Jones Financial Companies Lllp increased its holdings in shares of Confluent by 250.6% in the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after purchasing an additional 2,481 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of Confluent by 21.7% in the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after purchasing an additional 826 shares during the period. 78.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Confluent news, Director Michelangelo Volpi sold 32,038 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $29.77, for a total value of $953,771.26. Following the transaction, the director directly owned 235,041 shares of the company’s stock, valued at $6,997,170.57. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neha Narkhede sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $29.77, for a total transaction of $1,190,800.00. Following the completion of the transaction, the director owned 28,549 shares of the company’s stock, valued at $849,903.73. The trade was a 58.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,357,664 shares of company stock valued at $38,315,446 in the last ninety days. Insiders own 9.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CFLT shares. Raymond James Financial downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. New Street Research set a $29.00 price objective on Confluent in a report on Thursday, October 30th. Piper Sandler downgraded Confluent from an “overweight” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Monday, December 8th. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 target price on shares of Confluent in a research note on Monday, December 8th. Finally, Citizens Jmp downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $28.78.

Confluent Trading Up 0.1%

Shares of NASDAQ:CFLT opened at $30.36 on Friday. The business’s 50 day simple moving average is $29.37 and its 200 day simple moving average is $23.93. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01. The company has a market capitalization of $10.62 billion, a P/E ratio of -33.73 and a beta of 0.95.

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.