Trexquant Investment LP Has $18.24 Million Position in Confluent, Inc. (NASDAQ:CFLT)

Trexquant Investment LP grew its stake in Confluent, Inc. (NASDAQ:CFLT) by 4,111.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 652,193 shares of the company’s stock after purchasing an additional 636,707 shares during the quarter. Trexquant Investment LP owned about 0.20% of Confluent worth $18,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Confluent in the 4th quarter valued at $59,000. GAMMA Investing LLC grew its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Confluent in the third quarter valued at about $68,000. Finally, AlphaQuest LLC increased its holdings in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after purchasing an additional 3,538 shares during the period. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $14,628,937.04. This trade represents a 33.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,200,746 shares of company stock worth $38,505,150. Insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CFLT. Barclays upped their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley upped their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Bank of America increased their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Confluent in a report on Monday, March 17th. Finally, Wells Fargo & Company increased their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $35.15.

Confluent Trading Up 0.5 %

NASDAQ:CFLT opened at $23.56 on Wednesday. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock’s 50 day simple moving average is $29.21 and its 200-day simple moving average is $27.31. The firm has a market cap of $7.87 billion, a P/E ratio of -21.81 and a beta of 0.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

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

Confluent 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.