Xponance Inc. Purchases 7,509 Shares of Confluent, Inc. (NASDAQ:CFLT)

Xponance Inc. boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 22.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,279 shares of the company’s stock after acquiring an additional 7,509 shares during the quarter. Xponance Inc.’s holdings in Confluent were worth $1,219,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in shares of Confluent during the 1st quarter worth about $26,000. Quest Partners LLC bought a new position in Confluent during the fourth quarter worth about $31,000. V Square Quantitative Management LLC acquired a new position in Confluent during the second quarter worth approximately $68,000. UniSuper Management Pty Ltd raised its stake in Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares during the period. Finally, Advisors Asset Management Inc. lifted its position 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 valued at $91,000 after buying an additional 859 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Trading Up 0.1 %

Shares of CFLT stock opened at $19.70 on Friday. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $35.07. The stock’s fifty day moving average price is $21.13 and its two-hundred day moving average price is $26.16. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The company has a market cap of $6.26 billion, a PE ratio of -15.76 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $234.99 million during the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. Equities analysts predict that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Insider Activity

In related news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the sale, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,561,071.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 524,453 shares of company stock worth $10,833,388. Corporate insiders own 13.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CFLT shares. Canaccord Genuity Group decreased their target price on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Bank of America decreased their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada dropped their price objective on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Loop Capital reduced their target price on shares of Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, July 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Confluent in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.97.

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.