CANADA LIFE ASSURANCE Co Has $6.10 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

CANADA LIFE ASSURANCE Co grew its stake in Confluent, Inc. (NASDAQ:CFLT) by 9.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 199,789 shares of the company’s stock after purchasing an additional 17,435 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.06% of Confluent worth $6,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in shares of Confluent during the 1st quarter worth about $26,000. Rakuten Securities Inc. acquired a new stake in Confluent during the 4th quarter worth $31,000. Quest Partners LLC bought a new position in Confluent during the fourth quarter worth about $31,000. GAMMA Investing LLC acquired a new position in Confluent in the fourth quarter valued at about $35,000. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Confluent Trading Up 0.4 %

Shares of NASDAQ:CFLT opened at $25.06 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $38.19. The company’s 50 day moving average price is $27.50 and its two-hundred day moving average price is $28.45.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). The company had revenue of $217.24 million during the quarter, compared to analyst estimates of $211.57 million. Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. As a group, sell-side analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current year.

Insider Buying and Selling at Confluent

In other Confluent news, Director Lara Caimi sold 9,375 shares of Confluent stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $31.00, for a total value of $290,625.00. Following the transaction, the director now owns 5,399 shares in the company, valued at $167,369. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Confluent news, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $31.00, for a total value of $290,625.00. Following the sale, the director now owns 5,399 shares in the company, valued at $167,369. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $26.17, for a total value of $6,084,525.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $11,841,610.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 632,725 shares of company stock valued at $18,138,428. 13.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CFLT has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, June 4th. Canaccord Genuity Group upgraded Confluent from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, May 8th. Barclays increased their price objective on Confluent from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Mizuho decreased their price target on shares of Confluent from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Confluent from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.93.

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.