GSA Capital Partners LLP Grows Stock Position in Confluent, Inc. (NASDAQ:CFLT)

GSA Capital Partners LLP lifted its stake in Confluent, Inc. (NASDAQ:CFLT) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,461 shares of the company’s stock after purchasing an additional 1,938 shares during the period. GSA Capital Partners LLP’s holdings in Confluent were worth $621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co boosted its holdings in Confluent by 110.3% in the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management raised its stake in Confluent by 308.3% in the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after buying an additional 251,507 shares in the last quarter. Pathway Capital Management LP acquired a new stake in Confluent in the third quarter valued at $918,000. Sei Investments Co. raised its stake in Confluent by 29.1% in the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after buying an additional 68,880 shares in the last quarter. Finally, Creative Planning raised its stake in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after buying an additional 49,699 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Trading Up 1.6 %

Shares of CFLT opened at $27.51 on Tuesday. The stock has a fifty day moving average of $22.54 and a two-hundred day moving average of $24.55. 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 company has a market capitalization of $9.02 billion, a PE ratio of -24.78 and a beta of 0.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07.

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

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.29, for a total transaction of $6,809,925.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $13,253,373.52. This represents a 33.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Craig Miller sold 1,084,259 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction 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 in the last ninety days. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $31.00 price target on shares of Confluent in a research note on Friday. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Mizuho lifted their target price on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, TD Cowen lifted their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.88.

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.