Vanguard Group Inc. Buys 2,970,708 Shares of Confluent, Inc. $CFLT

Vanguard Group Inc. lifted its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 10.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,347,214 shares of the company’s stock after purchasing an additional 2,970,708 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Confluent worth $620,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CFLT. True Wealth Design LLC acquired a new position in Confluent during the 3rd quarter worth $36,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Confluent during the second quarter worth approximately $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Confluent in the second quarter valued at approximately $67,000. Jones Financial Companies Lllp boosted its stake in 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 acquiring an additional 2,481 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in 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 during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. FBN Securities reissued an “outperform” rating and issued a $28.00 price target on shares of Confluent in a research note on Tuesday, October 28th. Oppenheimer downgraded Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. The Goldman Sachs Group increased their target price on Confluent from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Mizuho lowered Confluent from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Raymond James Financial downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.71.

Insider Transactions at Confluent

In other Confluent news, CRO Ban Ryan Norris Mac sold 44,114 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $29.77, for a total transaction of $1,313,273.78. Following the completion of the transaction, the executive owned 336,950 shares in the company, valued at approximately $10,031,001.50. This represents a 11.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neha Narkhede sold 80,000 shares of Confluent stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.59, for a total value of $2,447,200.00. Following the completion of the sale, the director directly owned 28,549 shares in the company, valued at $873,313.91. This represents a 73.70% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,214,570 shares of company stock worth $36,246,699. Company insiders own 13.82% of the company’s stock.

Confluent Price Performance

NASDAQ CFLT opened at $30.69 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of -35.69 and a beta of 0.95. The business has a 50 day simple moving average of $30.38 and a 200 day simple moving average of $24.63. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $33.00.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $314.82 million for the quarter, compared to analyst estimates of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.