53,106 Shares in Confluent, Inc. (NASDAQ:CFLT) Purchased by Alight Capital Management LP

Alight Capital Management LP purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 53,106 shares of the company’s stock, valued at approximately $1,568,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Confluent in the 4th quarter valued at $37,046,000. Highland Capital Management LLC bought a new stake in Confluent during the first quarter worth $1,181,000. William Blair Investment Management LLC purchased a new position in Confluent in the second quarter worth $193,403,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Confluent by 19.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,501 shares of the company’s stock valued at $473,000 after purchasing an additional 2,542 shares during the last quarter. Finally, Madison Asset Management LLC bought a new stake in shares of Confluent during the 4th quarter worth $2,555,000. 78.09% of the stock is owned by institutional investors.

Insider Activity

In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the firm’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 completion of the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock worth $10,833,388 in the last quarter. 13.82% of the stock is owned by company insiders.

Confluent Stock Up 0.6 %

Shares of NASDAQ:CFLT opened at $19.81 on Wednesday. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $21.45 and a 200-day moving average price of $26.33. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $35.07.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Confluent from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and set a $30.00 price objective (down from $36.00) on shares of Confluent in a report on Thursday, August 1st. Royal Bank of Canada dropped their price target on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Stifel Nicolaus lowered their target price on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Evercore ISI cut their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.97.

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.