Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Champlain Investment Partners LLC

Champlain Investment Partners LLC lifted its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 72.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,700,846 shares of the company’s stock after purchasing an additional 4,486,841 shares during the quarter. Confluent comprises about 1.3% of Champlain Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding. Champlain Investment Partners LLC’s holdings in Confluent were worth $218,083,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of CFLT. Diversified Trust Co raised its position in shares of Confluent by 110.3% during the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after buying an additional 31,729 shares in the last quarter. Sycomore Asset Management increased its stake in shares of Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after acquiring an additional 251,507 shares during the period. Pathway Capital Management LP bought a new stake in Confluent during the third quarter worth approximately $918,000. Sei Investments Co. lifted its position in Confluent by 29.1% in the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock worth $9,022,000 after purchasing an additional 68,880 shares during the period. Finally, Creative Planning lifted its position in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Up 3.0 %

Shares of NASDAQ:CFLT opened at $31.52 on Friday. The business has a fifty day simple moving average of $23.35 and a 200 day simple moving average of $24.64. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, equities research analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Insider Activity

In other news, Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erica Schultz sold 9,467 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41. Following the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at approximately $19,140,391.68. This represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,425,457 shares of company stock worth $93,622,927. 13.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CFLT shares. Wells Fargo & Company dropped their price objective on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. UBS Group boosted their price target on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America reduced their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Robert W. Baird raised their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.88.

Confluent Company Profile

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.