Vanguard Group Inc. Purchases 599,582 Shares of Confluent, Inc. (NASDAQ:CFLT)

Vanguard Group Inc. boosted its position in Confluent, Inc. (NASDAQ:CFLT) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 24,828,562 shares of the company’s stock after purchasing an additional 599,582 shares during the period. Vanguard Group Inc. owned about 7.57% of Confluent worth $694,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in shares of Confluent by 43.7% in the fourth quarter. LPL Financial LLC now owns 66,726 shares of the company’s stock valued at $1,866,000 after acquiring an additional 20,300 shares in the last quarter. Fox Run Management L.L.C. grew its stake in Confluent by 19.8% in the 4th quarter. Fox Run Management L.L.C. now owns 71,717 shares of the company’s stock valued at $2,005,000 after purchasing an additional 11,870 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Confluent during the 4th quarter valued at $1,356,000. Sei Investments Co. raised its stake in shares of Confluent by 12.7% during the 4th quarter. Sei Investments Co. now owns 445,585 shares of the company’s stock worth $12,459,000 after purchasing an additional 50,340 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Confluent during the 4th quarter worth $579,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Erica Schultz sold 150,000 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $24,286,533.12. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,200,746 shares of company stock worth $38,505,150. 13.82% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CFLT shares. Wells Fargo & Company raised their price objective on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Mizuho raised their price target 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. JPMorgan Chase & Co. upped their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, UBS Group raised 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 assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Trading Down 4.8 %

Shares of Confluent stock opened at $24.33 on Monday. The company has a 50 day simple moving average of $29.36 and a two-hundred day simple moving average of $27.25. The firm has a market cap of $8.13 billion, a PE ratio of -22.53 and a beta of 0.90. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its 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%. Analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal 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.