Oppenheimer & Co. Inc. Sells 20,500 Shares of Confluent, Inc. $CFLT

Oppenheimer & Co. Inc. decreased its position in Confluent, Inc. (NASDAQ:CFLT) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,005 shares of the company’s stock after selling 20,500 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Confluent were worth $1,406,000 as of its most recent SEC filing.

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

Insider Activity at Confluent

In related news, Director Alyssa Henry sold 62,500 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $30.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director owned 28,549 shares of the company’s stock, valued at $856,470. This represents a 68.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kong Phan sold 4,545 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $29.96, for a total transaction of $136,168.20. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,125,164 shares of company stock worth $32,844,721 in the last ninety days. Insiders own 9.20% of the company’s stock.

Confluent Trading Up 0.1%

Shares of CFLT opened at $30.56 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 4.01 and a current ratio of 3.83. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $36.25. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of -35.53 and a beta of 0.95. The business’s fifty day moving average is $30.30 and its 200-day moving average is $24.08.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CFLT shares. Morgan Stanley increased their target price on shares of Confluent from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Mizuho downgraded Confluent from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Guggenheim lowered Confluent from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. William Blair downgraded Confluent from an “outperform” rating to a “market perform” rating in a research report on Monday, December 8th. Finally, Stephens increased their target price on Confluent from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.71.

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.