Paloma Partners Management Co Acquires New Stake in Confluent, Inc. (NASDAQ:CFLT)

Paloma Partners Management Co bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 14,865 shares of the company’s stock, valued at approximately $303,000.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Confluent in the second quarter worth approximately $68,000. Point72 Hong Kong Ltd bought a new position in Confluent during the 3rd quarter worth approximately $68,000. Acadian Asset Management LLC acquired a new position in shares of Confluent in the 2nd quarter worth approximately $175,000. Plato Investment Management Ltd lifted its position in shares of Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after purchasing an additional 6,312 shares during the period. Finally, Centaurus Financial Inc. boosted its stake in shares of Confluent by 109.2% in the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 2,096 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $59,170.08. Following the transaction, the chief accounting officer now directly owns 190,680 shares in the company, valued at $5,382,896.40. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $31.21, for a total transaction of $1,988,982.09. Following the sale, the insider now owns 678,016 shares of the company’s stock, valued at approximately $21,160,879.36. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,069,108 shares of company stock worth $116,165,158 in the last quarter. 13.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on CFLT. UBS Group boosted their target price on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. DA Davidson restated a “buy” rating and set a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Evercore ISI cut their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.12.

Confluent Stock Up 0.6 %

Confluent stock opened at $33.29 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market cap of $10.92 billion, a PE ratio of -29.99 and a beta of 0.88. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The firm’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $24.64.

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

About Confluent

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.