Jacobs Levy Equity Management Inc. Grows Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Jacobs Levy Equity Management Inc. lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 46.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,513,426 shares of the company’s stock after purchasing an additional 802,353 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Confluent were worth $51,224,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Confluent during the 2nd quarter valued at approximately $68,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter valued at approximately $68,000. Acadian Asset Management LLC bought a new stake in shares of Confluent during the second quarter valued at approximately $175,000. Plato Investment Management Ltd boosted its position in shares of Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after purchasing an additional 6,312 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Confluent in the third quarter worth $214,000. 78.09% of the stock is owned by institutional investors.

Insider Activity at Confluent

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at approximately $362,955.10. The trade was a 98.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Stephanie Buscemi sold 26,047 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.89, for a total transaction of $856,685.83. Following the completion of the transaction, the chief marketing officer now owns 144,373 shares in the company, valued at $4,748,427.97. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,005,379 shares of company stock worth $114,176,175. 13.82% of the stock is owned by insiders.

Confluent Stock Performance

Shares of CFLT stock opened at $31.53 on Wednesday. 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 company has a 50 day moving average price of $24.63 and a 200-day moving average price of $24.59. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The firm has a market capitalization of $10.34 billion, a PE ratio of -28.41 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the subject of several recent research reports. UBS Group raised their price objective on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Mizuho lifted their price target on shares of Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Sanford C. Bernstein decreased their target price on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their target price on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

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.