Confluent, Inc. (NASDAQ:CFLT) Shares Sold by AlpInvest Partners B.V.

AlpInvest Partners B.V. lowered its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,196 shares of the company’s stock after selling 25,914 shares during the period. Confluent accounts for approximately 2.0% of AlpInvest Partners B.V.’s portfolio, making the stock its 11th biggest holding. AlpInvest Partners B.V.’s holdings in Confluent were worth $3,367,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Diversified Trust Co boosted its stake in shares of Confluent by 110.3% during the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after acquiring an additional 31,729 shares during the last quarter. Sycomore Asset Management boosted its stake in shares of Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after acquiring an additional 251,507 shares during the last quarter. Pathway Capital Management LP acquired a new stake in shares of Confluent during the third quarter valued at $918,000. Sei Investments Co. boosted its stake in shares of Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after acquiring an additional 68,880 shares during the last quarter. Finally, Creative Planning boosted its stake in shares of Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Up 0.3 %

NASDAQ:CFLT traded up $0.09 during mid-day trading on Wednesday, reaching $28.38. The stock had a trading volume of 277,970 shares, compared to its average volume of 4,339,061. The company has a market capitalization of $9.31 billion, a price-to-earnings ratio of -25.52 and a beta of 0.82. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The stock’s 50 day simple moving average is $22.72 and its two-hundred day simple moving average is $24.55. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CFLT. Evercore ISI reduced their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Truist Financial reissued a “buy” rating and issued a $30.00 price target (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock 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, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.88.

Insider Buying and Selling at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,045,235.12. The trade was a 33.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. The disclosure for this sale can be found here. Insiders sold a total of 3,308,766 shares of company stock worth $90,381,635 over the last ninety days. Company insiders own 13.82% of the company’s stock.

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.