Blair William & Co. IL Purchases 26,575 Shares of Confluent, Inc. (NASDAQ:CFLT)

Blair William & Co. IL grew its position in Confluent, Inc. (NASDAQ:CFLT) by 149.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,375 shares of the company’s stock after buying an additional 26,575 shares during the period. Blair William & Co. IL’s holdings in Confluent were worth $1,310,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new position in Confluent in the second quarter valued at about $193,403,000. 1832 Asset Management L.P. acquired a new position in shares of Confluent in the 1st quarter valued at approximately $181,075,000. Coatue Management LLC bought a new stake in Confluent during the 4th quarter worth approximately $134,132,000. Champlain Investment Partners LLC acquired a new stake in Confluent during the 1st quarter worth approximately $144,563,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after buying an additional 2,587,169 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,045,235.12. The sale was disclosed in a filing with the SEC, which is available through this link. In other Confluent news, CFO Rohan Sivaram sold 22,926 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $497,035.68. Following the completion of the transaction, the chief financial officer now owns 555,337 shares in the company, valued at $12,039,706.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 524,263 shares of company stock worth $10,829,566. Company insiders own 13.82% of the company’s stock.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $19.69 on Tuesday. The stock’s 50-day moving average is $21.71 and its 200 day moving average is $26.52. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of -15.75 and a beta of 0.88. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

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

Analyst Ratings Changes

CFLT has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. raised Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $30.00 price target (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. Loop Capital decreased their price target on shares of Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Finally, Evercore ISI cut their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.97.

About Confluent

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.