Xponance Inc. Increases Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Xponance Inc. increased its stake in Confluent, Inc. (NASDAQ:CFLT) by 6.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 33,144 shares of the company’s stock after acquiring an additional 1,962 shares during the quarter. Xponance Inc.’s holdings in Confluent were worth $927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CFLT. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the third quarter valued at approximately $68,000. GAMMA Investing LLC lifted its position in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after acquiring an additional 3,538 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CFLT shares. Guggenheim increased their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price target on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Mizuho raised their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $38.00 in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.33.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 3,175 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the sale, the chief accounting officer now owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock valued at $38,505,150 in the last 90 days. Company insiders own 13.82% of the company’s stock.

Confluent Price Performance

CFLT opened at $27.30 on Tuesday. The stock’s 50-day moving average price is $29.47 and its 200 day moving average price is $27.08. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of -25.28 and a beta of 0.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

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