Confluent, Inc. $CFLT Shares Bought by Savant Capital LLC

Savant Capital LLC raised its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 10.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416,137 shares of the company’s stock after acquiring an additional 39,576 shares during the quarter. Savant Capital LLC’s holdings in Confluent were worth $8,240,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Champlain Investment Partners LLC increased its holdings in shares of Confluent by 6.7% in the 2nd quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock valued at $288,939,000 after acquiring an additional 727,943 shares during the period. William Blair Investment Management LLC increased its stake in Confluent by 3.8% in the 2nd quarter. William Blair Investment Management LLC now owns 9,639,102 shares of the company’s stock valued at $240,303,000 after buying an additional 356,277 shares during the period. Franklin Resources Inc. increased its stake in Confluent by 1.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,592,443 shares of the company’s stock valued at $214,210,000 after buying an additional 143,232 shares during the period. Geode Capital Management LLC raised its position in Confluent by 12.5% during the 2nd quarter. Geode Capital Management LLC now owns 5,235,819 shares of the company’s stock worth $130,551,000 after buying an additional 583,219 shares during the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. increased its stake in shares of Confluent by 17.9% during the second quarter. Optimus Prime Fund Management Co. Ltd. now owns 5,070,000 shares of the company’s stock worth $126,395,000 after acquiring an additional 770,000 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFLT has been the topic of several recent research reports. Oppenheimer lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. TD Cowen reissued a “hold” rating on shares of Confluent in a report on Tuesday, October 28th. Sanford C. Bernstein downgraded shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a report on Friday, January 23rd. Barclays increased their price target on Confluent from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, New Street Research set a $29.00 price target on shares of Confluent in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.78.

Confluent Trading Down 0.4%

NASDAQ:CFLT opened at $30.33 on Thursday. Confluent, Inc. has a one year low of $15.64 and a one year high of $37.90. The company has a debt-to-equity ratio of 0.98, a quick ratio of 4.01 and a current ratio of 4.01. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of -33.70 and a beta of 0.95. The business’s 50-day simple moving average is $29.20 and its 200 day simple moving average is $23.88.

Insider Transactions at Confluent

In other Confluent news, CAO Kong Phan sold 4,545 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $29.96, for a total transaction of $136,168.20. Following the sale, the chief accounting officer owned 220,505 shares in the company, valued at $6,606,329.80. This represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eric Vishria sold 15,476 shares of Confluent stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $464,280.00. Following the completion of the transaction, the director directly owned 1,061,542 shares of the company’s stock, valued at approximately $31,846,260. This represents a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,357,664 shares of company stock valued at $38,315,446 over the last 90 days. Corporate insiders own 9.20% of the company’s stock.

About Confluent

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.