GSA Capital Partners LLP Invests $341,000 in Confluent, Inc. $CFLT

GSA Capital Partners LLP bought a new position in Confluent, Inc. (NASDAQ:CFLT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,246 shares of the company’s stock, valued at approximately $341,000.

A number of other institutional investors have also recently made changes to their positions in CFLT. True Wealth Design LLC purchased a new stake in Confluent during the 3rd quarter valued at $36,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Confluent during the 2nd quarter worth $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Confluent during the second quarter valued at about $67,000. Jones Financial Companies Lllp raised its stake in shares of Confluent by 250.6% in the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock worth $69,000 after buying an additional 2,481 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Confluent by 21.7% in the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after buying an additional 826 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Confluent in a research report on Monday, December 29th. New Street Research set a $29.00 price target on Confluent in a report on Thursday, October 30th. Wells Fargo & Company restated an “equal weight” rating and issued a $31.00 target price on shares of Confluent in a report on Monday, December 8th. DA Davidson reissued a “neutral” rating and set a $31.00 target price (up from $29.00) on shares of Confluent in a research report on Monday, December 8th. Finally, Sanford C. Bernstein lowered shares of Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price objective on the stock. in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Hold” and a consensus target price of $28.71.

Confluent Stock Down 0.0%

Shares of NASDAQ:CFLT opened at $30.63 on Friday. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average of $30.42 and a two-hundred day moving average of $24.81. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $33.00. The stock has a market cap of $10.95 billion, a P/E ratio of -35.62 and a beta of 0.95.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results 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 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 analysts’ expectations of $308.03 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Activity

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.59, for a total transaction of $764,750.00. Following the completion of the transaction, the director owned 155,512 shares of the company’s stock, valued at $4,757,112.08. This trade represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Kong Phan sold 2,277 shares of Confluent stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $69,903.90. Following the sale, the chief accounting officer owned 218,228 shares of the company’s stock, valued at approximately $6,699,599.60. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,539,830 shares of company stock worth $46,231,391. 9.20% of the stock is currently 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.