Oddo BHF Asset Management Sas Takes $7.65 Million Position in Confluent, Inc. (NASDAQ:CFLT)

Oddo BHF Asset Management Sas purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 375,189 shares of the company’s stock, valued at approximately $7,646,000. Oddo BHF Asset Management Sas owned approximately 0.11% of Confluent at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. EP Wealth Advisors LLC lifted its holdings in shares of Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Confluent by 9.6% in the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after acquiring an additional 1,113 shares during the last quarter. Truist Financial Corp increased its position in shares of Confluent by 5.3% in the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock valued at $721,000 after acquiring an additional 1,238 shares during the last quarter. Elo Mutual Pension Insurance Co increased its position in shares of Confluent by 8.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock valued at $551,000 after acquiring an additional 1,448 shares during the last quarter. Finally, CWM LLC increased its position in Confluent by 17.6% during the second quarter. CWM LLC now owns 10,099 shares of the company’s stock worth $298,000 after buying an additional 1,515 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction of $31,335,085.10. Following the completion of the sale, the director now directly owns 12,559 shares of the company’s stock, valued at approximately $362,955.10. This trade represents a 98.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $378,677.22. Following the sale, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at $13,646,184.39. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,533,995 shares of company stock valued at $131,348,784 in the last ninety days. Insiders own 13.82% of the company’s stock.

Confluent Stock Performance

Shares of CFLT opened at $31.32 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $24.72. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of -28.22 and a beta of 0.88. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share 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 analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

CFLT has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Scotiabank upped their target price on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Sanford C. Bernstein decreased their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Robert W. Baird upped their target price on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, UBS Group upped their target price on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.04.

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.