APG Asset Management N.V. Purchases 19,800 Shares of Confluent, Inc. (NASDAQ:CFLT)

APG Asset Management N.V. boosted its holdings in Confluent, Inc. (NASDAQ:CFLT) by 233.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 28,284 shares of the company’s stock after acquiring an additional 19,800 shares during the quarter. APG Asset Management N.V.’s holdings in Confluent were worth $779,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Confluent by 116.1% during the second quarter. AQR Capital Management LLC now owns 24,440 shares of the company’s stock worth $722,000 after buying an additional 13,133 shares in the last quarter. Alight Capital Management LP purchased a new stake in shares of Confluent in the second quarter valued at about $1,568,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Confluent by 73.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,983 shares of the company’s stock worth $1,151,000 after purchasing an additional 16,546 shares during the last quarter. Xponance Inc. grew its position in Confluent by 22.2% in the 2nd quarter. Xponance Inc. now owns 41,279 shares of the company’s stock worth $1,219,000 after purchasing an additional 7,509 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Confluent by 28.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after buying an additional 1,684,100 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CFLT. Evercore ISI cut their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. TD Cowen dropped their price target on Confluent from $31.00 to $27.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Scotiabank cut their target price on shares of Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reduced their target price on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.97.

Confluent Stock Down 7.3 %

CFLT stock opened at $18.90 on Wednesday. The company’s 50 day moving average is $20.91 and its 200 day moving average is $25.92. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of -15.12 and a beta of 0.88. 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, Inc. has a 1-year low of $14.69 and a 1-year high of $35.07.

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

Insider Buying and Selling at Confluent

In other news, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was 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 directly 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 available through the SEC website. In other news, CMO Stephanie Buscemi sold 3,866 shares of the business’s 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 sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at approximately $3,505,070.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erica Schultz sold 9,556 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the completion of the sale, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $14,904,631.44. The disclosure for this sale can be found here. Insiders have sold 524,453 shares of company stock worth $10,833,388 over the last 90 days. Corporate insiders own 13.82% of the company’s stock.

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.