Lbp Am Sa Purchases 175,000 Shares of Confluent, Inc. (NASDAQ:CFLT)

Lbp Am Sa boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,176,200 shares of the company’s stock after purchasing an additional 175,000 shares during the quarter. Lbp Am Sa owned about 0.36% of Confluent worth $32,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in Confluent by 12.3% during the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company’s stock worth $602,000 after purchasing an additional 2,367 shares during the last quarter. Quantbot Technologies LP raised its holdings in Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after purchasing an additional 28,360 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Confluent by 2.9% in 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. Oppenheimer & Co. Inc. raised its position in shares of Confluent by 152.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after acquiring an additional 41,431 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Confluent in the 3rd quarter valued at approximately $868,000. 78.09% of the stock is owned by institutional investors.

Insider Activity at Confluent

In other Confluent news, CAO Kong Phan sold 2,178 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the sale, the chief accounting officer now owns 177,415 shares of the company’s stock, valued at $5,602,765.70. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,201,518 shares of company stock valued at $38,533,306. 13.82% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. William Blair reiterated an “outperform” rating on shares of Confluent in a research report on Friday, March 7th. Scotiabank increased their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Barclays increased their price target on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Confluent Price Performance

NASDAQ:CFLT opened at $25.80 on Friday. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The firm has a fifty day simple moving average of $29.71 and a 200 day simple moving average of $26.70. The stock has a market capitalization of $8.62 billion, a PE ratio of -23.89 and a beta of 0.89.

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

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.