Savant Capital LLC Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Savant Capital LLC bought a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 379,371 shares of the company’s stock, valued at approximately $10,607,000.

Several other large investors have also added to or reduced their stakes in the stock. Champlain Investment Partners LLC boosted its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the period. Geode Capital Management LLC boosted its position in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the last quarter. Atreides Management LP boosted its position in shares of Confluent by 7.3% during the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock valued at $55,167,000 after acquiring an additional 184,865 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock valued at $51,224,000 after acquiring an additional 802,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after acquiring an additional 64,926 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

Shares of Confluent stock opened at $31.46 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The business’s 50 day simple moving average is $29.52 and its two-hundred day simple moving average is $25.25. The stock has a market capitalization of $10.32 billion, a P/E ratio of -28.34 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07.

Insiders Place Their Bets

In other news, Director Matthew Craig Miller sold 53,512 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $33.64, for a total transaction of $1,800,143.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.29, for a total value of $6,809,925.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $13,253,373.52. This trade represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,825,395 shares of company stock valued at $85,343,808 in the last ninety days. Company insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Citigroup lifted their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Guggenheim lifted their price target on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Piper Sandler lifted their price target on Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.30.

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.