Optimus Prime Fund Management Co. Ltd. Boosts Position in Confluent, Inc. $CFLT

Optimus Prime Fund Management Co. Ltd. lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 16.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,920,000 shares of the company’s stock after acquiring an additional 850,000 shares during the period. Confluent accounts for 10.4% of Optimus Prime Fund Management Co. Ltd.’s portfolio, making the stock its 4th biggest holding. Optimus Prime Fund Management Co. Ltd.’s holdings in Confluent were worth $117,216,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CFLT. True Wealth Design LLC bought a new stake in Confluent in the 3rd quarter valued at about $36,000. Ramirez Asset Management Inc. bought a new position in Confluent in the 3rd quarter worth about $40,000. Elevation Point Wealth Partners LLC bought a new position in Confluent in the 2nd quarter worth about $49,000. Jones Financial Companies Lllp increased 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 valued at $69,000 after purchasing an additional 2,481 shares during the period. Finally, Rothschild Investment LLC increased its stake in shares of Confluent by 110,016.7% in the third quarter. Rothschild Investment LLC now owns 6,607 shares of the company’s stock valued at $131,000 after purchasing an additional 6,601 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CFLT shares. Royal Bank Of Canada downgraded Confluent from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research report on Tuesday, December 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Confluent in a research report on Monday, December 29th. Guggenheim downgraded Confluent from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Needham & Company LLC lowered Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Oppenheimer cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.71.

Confluent Price Performance

NASDAQ CFLT opened at $30.67 on Friday. Confluent, Inc. has a 12 month low of $15.64 and a 12 month high of $30.81. The firm has a market capitalization of $10.97 billion, a PE ratio of -35.66 and a beta of 0.95. The company’s 50 day simple moving average is $30.56 and its 200 day simple moving average is $25.84. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83.

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

Insider Buying and Selling

In other news, CEO Edward Jay Kreps sold 270,207 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total value of $8,295,354.90. Following the completion of the sale, the chief executive officer owned 301,660 shares in the company, valued at $9,260,962. This represents a 47.25% 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 61,905 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.57, for a total value of $1,892,435.85. Following the transaction, the director directly owned 663,637 shares of the company’s stock, valued at $20,287,383.09. This represents a 8.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 767,245 shares of company stock worth $23,386,655. 9.20% of the stock is owned by corporate insiders.

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.