Moloney Securities Asset Management LLC Takes Position in Confluent, Inc. $CFLT

Moloney Securities Asset Management LLC acquired a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 76,250 shares of the company’s stock, valued at approximately $1,510,000.

A number of other large investors have also recently bought and sold shares of the business. True Wealth Design LLC bought a new position in Confluent in the 3rd quarter worth approximately $36,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Confluent during the second quarter valued at $49,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Confluent during the second quarter valued at $67,000. Jones Financial Companies Lllp raised its stake in shares of Confluent by 250.6% during the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock valued at $69,000 after purchasing an additional 2,481 shares in the last quarter. Finally, AlphaQuest LLC lifted its holdings in Confluent by 21.7% in the second quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock worth $116,000 after purchasing an additional 826 shares during the period. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Up 0.7%

Shares of Confluent stock opened at $30.57 on Friday. Confluent, Inc. has a 12-month low of $15.64 and a 12-month high of $37.90. The firm has a market capitalization of $10.69 billion, a PE ratio of -33.97 and a beta of 0.95. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average is $29.55 and its 200-day moving average is $23.95.

Insider Activity at Confluent

In other news, CAO Kong Phan sold 4,545 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $29.96, for a total transaction of $136,168.20. Following the sale, the chief accounting officer owned 220,505 shares in the company, valued at $6,606,329.80. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Ban Ryan Norris Mac sold 3,053 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $29.96, for a total transaction of $91,467.88. Following the completion of the transaction, the executive directly owned 332,679 shares of the company’s stock, valued at $9,967,062.84. This represents a 0.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 1,357,664 shares of company stock valued at $38,315,446. Corporate insiders own 9.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of recent analyst reports. Guggenheim downgraded shares of Confluent from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Sanford C. Bernstein cut Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a report on Friday, January 23rd. Raymond James Financial downgraded Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Mizuho cut Confluent from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Barclays upped their price objective on Confluent from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twenty-eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.78.

Confluent 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.