Ieq Capital LLC Grows Position in Confluent, Inc. (NASDAQ:CFLT)

Ieq Capital LLC lifted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 155.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,889 shares of the company’s stock after buying an additional 49,214 shares during the period. Ieq Capital LLC’s holdings in Confluent were worth $2,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. Blue Trust Inc. raised its position in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the 3rd quarter worth about $68,000. GAMMA Investing LLC raised its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Pacer Advisors Inc. lifted its position 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 buying an additional 1,619 shares during the last quarter. Finally, DMC Group LLC purchased a new position in Confluent during the fourth quarter worth about $201,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Performance

NASDAQ CFLT opened at $31.01 on Monday. The firm has a market cap of $10.17 billion, a P/E ratio of -28.71 and a beta of 0.92. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The business’s 50-day moving average price is $29.86 and its 200 day moving average price is $26.02. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their price objective on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Truist Financial increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Insider Activity at Confluent

In related news, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Craig Miller sold 347,646 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $32.69, for a total transaction of $11,364,547.74. Following the transaction, the director now owns 22,688 shares in the company, valued at $741,670.72. The trade was a 93.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 956,677 shares of company stock worth $31,969,675 over the last three months. 13.82% of the stock is currently owned by corporate insiders.

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.