Exane Asset Management Buys Shares of 18,269 Confluent, Inc. (NASDAQ:CFLT)

Exane Asset Management purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 18,269 shares of the company’s stock, valued at approximately $529,000. Confluent makes up 0.3% of Exane Asset Management’s holdings, making the stock its 20th largest position.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after buying an additional 1,607 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Confluent in the third quarter valued at $68,000. Pacer Advisors Inc. boosted its holdings in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after purchasing an additional 1,619 shares during the period. Finally, DMC Group LLC acquired a new position in Confluent during the 4th quarter worth $201,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho lifted their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays lifted their price target on shares of Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. UBS Group raised their price objective on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Sanford C. Bernstein cut their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.30.

Confluent Stock Performance

Shares of CFLT stock opened at $30.02 on Friday. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The stock’s 50-day moving average price is $29.51 and its 200 day moving average price is $25.20. 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 stock has a market capitalization of $9.85 billion, a PE ratio of -27.04 and a beta of 0.92.

Insider Activity

In other Confluent news, CMO Stephanie Buscemi sold 5,271 shares of Confluent stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $148,800.33. Following the sale, the chief marketing officer now owns 144,373 shares of the company’s stock, valued at approximately $4,075,649.79. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Craig Miller sold 53,512 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $33.64, for a total value of $1,800,143.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,825,395 shares of company stock valued at $85,343,808. Company insiders own 13.82% of the company’s stock.

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.