Impax Asset Management Group plc Purchases Shares of 21,912 Confluent, Inc. (NASDAQ:CFLT)

Impax Asset Management Group plc purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 21,912 shares of the company’s stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CFLT. Creative Planning lifted its holdings in shares of Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Confluent by 307.7% during the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock valued at $340,000 after acquiring an additional 12,605 shares in the last quarter. Janney Capital Management LLC lifted its holdings in shares of Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock valued at $406,000 after acquiring an additional 6,842 shares in the last quarter. Fiera Capital Corp acquired a new position in shares of Confluent during the 3rd quarter valued at $21,127,000. Finally, SpiderRock Advisors LLC lifted its holdings in shares of Confluent by 323.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock valued at $5,381,000 after acquiring an additional 201,721 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CFLT. Scotiabank lifted their target price on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Needham & Company LLC lifted their price target on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price target on shares of Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Guggenheim lifted their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI lifted their price target on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Insider Buying and Selling at Confluent

In other Confluent news, insider Erica Schultz sold 113,729 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $30.29, for a total transaction of $3,444,851.41. Following the completion of the transaction, the insider now directly owns 502,424 shares of the company’s stock, valued at $15,218,422.96. The trade was a 18.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,394,730 shares of company stock valued at $45,827,255 in the last ninety days. Company insiders own 13.82% of the company’s stock.

Confluent Trading Down 2.1 %

NASDAQ CFLT opened at $30.44 on Wednesday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a 50-day simple moving average of $29.84 and a 200-day simple moving average of $26.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market capitalization of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

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.