Cache Advisors LLC Lowers Stock Position in Confluent, Inc. $CFLT

Cache Advisors LLC trimmed its position in Confluent, Inc. (NASDAQ:CFLT) by 66.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,471 shares of the company’s stock after selling 35,173 shares during the quarter. Cache Advisors LLC’s holdings in Confluent were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Confluent in the third quarter worth approximately $36,000. Elevation Point Wealth Partners LLC bought a new position in Confluent in the 2nd quarter worth $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Confluent in the 2nd quarter worth $67,000. Jones Financial Companies Lllp raised its holdings in Confluent by 250.6% during the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after acquiring an additional 2,481 shares during the period. Finally, AlphaQuest LLC lifted 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 acquiring an additional 826 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Trading Up 0.1%

CFLT stock opened at $30.67 on Friday. The firm has a fifty day moving average price of $30.43 and a 200 day moving average price of $24.97. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $32.63. The firm has a market cap of $10.97 billion, a PE ratio of -35.66 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.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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 net margin of 25.31% and a negative return on equity of 22.66%. The business had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same quarter last year, the business earned $0.09 earnings per share. Confluent’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CFLT. Robert W. Baird increased their target price on Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on shares of Confluent and gave the company a “hold” rating in a report on Monday, December 8th. Citigroup boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. UBS Group lowered shares of Confluent from a “buy” rating to a “neutral” rating and upped their target price for the stock from $29.00 to $31.00 in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada downgraded shares of Confluent from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $30.00 to $31.00 in a report on Tuesday, December 9th. 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 issued a Sell rating to the company. According to MarketBeat, Confluent has an average rating of “Hold” and an average price target of $28.71.

Insider Buying and Selling

In other news, Director Eric Vishria sold 61,905 shares of Confluent stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.57, for a total value of $1,892,435.85. Following the completion of the transaction, the director owned 663,637 shares in the company, valued at approximately $20,287,383.09. The trade was a 8.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 506,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $30.04, for a total value of $15,200,240.00. Following the transaction, the chief executive officer directly owned 339,367 shares in the company, valued at approximately $10,194,584.68. This represents a 59.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,539,830 shares of company stock valued at $46,231,391 in the last quarter. 9.20% of the stock is currently owned by insiders.

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.