Hussman Strategic Advisors Inc. Lowers Position in Confluent, Inc. (NASDAQ:CFLT)

Hussman Strategic Advisors Inc. lowered its position in Confluent, Inc. (NASDAQ:CFLT) by 50.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,000 shares of the company’s stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Confluent were worth $620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of Confluent by 35.4% in the fourth quarter. CWM LLC now owns 8,694 shares of the company’s stock worth $203,000 after purchasing an additional 2,271 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Confluent during the 4th quarter valued at about $35,000. Truist Financial Corp grew its stake in shares of Confluent by 29.8% in the fourth quarter. Truist Financial Corp now owns 34,482 shares of the company’s stock worth $807,000 after acquiring an additional 7,916 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Confluent by 7,051.6% during the fourth quarter. Russell Investments Group Ltd. now owns 259,101 shares of the company’s stock valued at $6,063,000 after purchasing an additional 255,478 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Confluent by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 561,497 shares of the company’s stock worth $13,139,000 after purchasing an additional 94,405 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Trading Up 1.5 %

CFLT opened at $21.22 on Monday. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.22. The company has a market capitalization of $6.74 billion, a P/E ratio of -16.98 and a beta of 0.91. The stock’s fifty day moving average is $24.05 and its two-hundred day moving average is $27.93. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The firm had revenue of $234.99 million during the quarter, compared to the consensus estimate of $229.49 million. Analysts forecast that Confluent, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CFLT. Canaccord Genuity Group dropped their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. upgraded Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a research note on Friday, August 9th. Evercore ISI began coverage on shares of Confluent in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $35.00 price objective on the stock. Loop Capital cut their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, July 19th. Finally, Stifel Nicolaus reduced their target price on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.96.

Insider Activity

In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the sale, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the transaction, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at $3,505,070.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $26.17, for a total transaction of $6,084,525.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $11,841,610.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 597,162 shares of company stock worth $14,169,396. Insiders own 13.82% of the company’s stock.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.