Intellectus Partners LLC Grows Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Intellectus Partners LLC boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 132.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,300 shares of the company’s stock after buying an additional 38,300 shares during the quarter. Intellectus Partners LLC’s holdings in Confluent were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Confluent in the 2nd quarter worth about $68,000. UniSuper Management Pty Ltd raised its stake in 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 during the period. Advisors Asset Management Inc. lifted its holdings in shares of Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Confluent during the second quarter valued at approximately $175,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Stock Performance

CFLT opened at $28.53 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The firm’s 50-day moving average price is $22.24 and its 200-day moving average price is $24.62. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Insider Activity

In other Confluent news, Director Matthew Craig Miller sold 1,067,242 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at $3,505,070.64. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,041,895 shares of company stock valued at $53,318,197 over the last ninety days. 13.82% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CFLT shares. Baird R W upgraded Confluent to a “hold” rating in a report on Wednesday, September 4th. Mizuho upped their price target on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Loop Capital dropped their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, July 19th. DA Davidson reiterated a “buy” rating and issued a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. Finally, Barclays lifted their price objective on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

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.