AlpInvest Partners B.V. Sells 115,533 Shares of Confluent, Inc. (NASDAQ:CFLT)

AlpInvest Partners B.V. cut its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 37.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,110 shares of the company’s stock after selling 115,533 shares during the quarter. Confluent accounts for 2.0% of AlpInvest Partners B.V.’s portfolio, making the stock its 12th biggest holding. AlpInvest Partners B.V. owned approximately 0.06% of Confluent worth $5,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFLT. Plato Investment Management Ltd grew its holdings in shares of Confluent by 2,184.1% during 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 in the last quarter. William Blair Investment Management LLC acquired a new stake in Confluent during the second quarter worth $193,403,000. Federated Hermes Inc. increased its holdings in Confluent by 1.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,160,770 shares of the company’s stock valued at $34,278,000 after buying an additional 19,170 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Confluent by 96.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,013 shares of the company’s stock valued at $623,000 after buying an additional 10,332 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd bought a new position in shares of Confluent during the 2nd quarter worth about $238,000. 78.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rohan Sivaram sold 22,926 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $497,035.68. Following the transaction, the chief financial officer now owns 555,337 shares of the company’s stock, valued at $12,039,706.16. The disclosure for this sale can be found here. Insiders have sold a total of 533,433 shares of company stock valued at $11,074,955 in the last 90 days. 13.82% of the stock is owned by company insiders.

Confluent Stock Performance

Confluent stock opened at $20.12 on Monday. The company has a market cap of $6.39 billion, a PE ratio of -16.10 and a beta of 0.88. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07. The company’s 50-day moving average is $22.33 and its two-hundred day moving average is $26.98.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Equities analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CFLT shares. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Confluent in a research note on Tuesday, July 30th. Canaccord Genuity Group lowered their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Bank of America cut their target price on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Evercore ISI initiated coverage on Confluent in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, TD Cowen dropped their price objective on Confluent from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average target price of $30.69.

Confluent Company 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.