Tredje AP fonden Invests $20.91 Million in Confluent, Inc. $CFLT

Tredje AP fonden bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,056,158 shares of the company’s stock, valued at approximately $20,912,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Confluent by 28.5% in the second quarter. Bank of Montreal Can now owns 261,007 shares of the company’s stock worth $6,507,000 after acquiring an additional 57,928 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Confluent by 655.7% during the 2nd quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock valued at $6,013,000 after buying an additional 211,360 shares during the period. Persistent Asset Partners Ltd acquired a new position in Confluent during the 2nd quarter worth approximately $499,000. Neuberger Berman Group LLC acquired a new position in Confluent during the 2nd quarter worth approximately $305,000. Finally, First Trust Advisors LP boosted its holdings in Confluent by 15.7% in the 2nd quarter. First Trust Advisors LP now owns 4,555,913 shares of the company’s stock worth $113,579,000 after acquiring an additional 616,822 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $31.00 price objective on shares of Confluent in a research note on Monday, December 8th. New Street Research set a $29.00 price target on shares of Confluent in a report on Thursday, October 30th. FBN Securities reaffirmed an “outperform” rating and set a $28.00 price target on shares of Confluent in a research note on Tuesday, October 28th. Oppenheimer cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Finally, Royal Bank Of Canada downgraded Confluent from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $30.00 to $31.00 in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.71.

Insider Activity at Confluent

In related news, Director Alyssa Henry sold 62,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total transaction of $1,875,000.00. Following the sale, the director directly owned 28,549 shares of the company’s stock, valued at approximately $856,470. This represents a 68.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Neha Narkhede sold 80,000 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.59, for a total value of $2,447,200.00. Following the transaction, the director owned 28,549 shares in the company, valued at $873,313.91. This trade represents a 73.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,214,570 shares of company stock worth $36,246,699 over the last quarter. 9.20% of the stock is owned by corporate insiders.

Confluent Price Performance

CFLT opened at $30.70 on Friday. The company has a market capitalization of $10.74 billion, a P/E ratio of -35.70 and a beta of 0.95. The company has a 50-day moving average of $30.37 and a 200-day moving average of $24.43. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $33.00.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $314.82 million during the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. Equities analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.