Phoenix Financial Ltd. Sells 56,418 Shares of Confluent, Inc. $CFLT

Phoenix Financial Ltd. lessened its holdings in Confluent, Inc. (NASDAQ:CFLT) by 3.7% in the third quarter, Holdings Channel reports. The firm owned 1,471,222 shares of the company’s stock after selling 56,418 shares during the period. Phoenix Financial Ltd.’s holdings in Confluent were worth $29,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings 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 buying an additional 1,037 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Confluent during the 3rd quarter worth approximately $36,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Confluent in the 2nd quarter worth approximately $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Confluent in the 2nd quarter worth approximately $67,000. Finally, AlphaQuest LLC lifted 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 purchasing an additional 826 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group downgraded Confluent from a “buy” rating to a “neutral” rating and raised their target price for the stock from $29.00 to $31.00 in a research report on Tuesday, December 9th. Needham & Company LLC lowered Confluent from a “buy” rating to a “hold” rating in a report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Confluent in a research note on Monday, December 29th. The Goldman Sachs Group upped their price objective on shares of Confluent from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Finally, FBN Securities reiterated an “outperform” rating and issued a $28.00 target price on shares of Confluent in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.78.

Confluent Trading Down 0.1%

Shares of Confluent stock opened at $30.53 on Tuesday. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The company has a market cap of $10.68 billion, a price-to-earnings ratio of -33.92 and a beta of 0.95. The company has a current ratio of 4.01, a quick ratio of 4.01 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $27.98 and its 200-day moving average price is $23.59.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Monday, October 27th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $298.52 million during 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%. Confluent’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, equities analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Confluent

In other news, CRO Ban Ryan Norris Mac sold 44,114 shares of the business’s stock in a transaction on Monday, December 8th. The shares were 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 directly owned 336,950 shares in the company, valued at $10,031,001.50. The trade was a 11.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alyssa Henry sold 62,500 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the director directly owned 28,549 shares in the company, valued at approximately $856,470. The trade was a 68.64% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,455,620 shares of company stock worth $40,630,407. 13.82% of the stock is owned by corporate 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.