American Century Companies Inc. Buys 2,431 Shares of Confluent, Inc. (NASDAQ:CFLT)

American Century Companies Inc. lifted its stake in Confluent, Inc. (NASDAQ:CFLT) by 21.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,518 shares of the company’s stock after buying an additional 2,431 shares during the quarter. American Century Companies Inc.’s holdings in Confluent were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CFLT. Hollencrest Capital Management purchased a new stake in Confluent in the 1st quarter worth $26,000. V Square Quantitative Management LLC purchased a new position in Confluent during the 2nd quarter valued at approximately $68,000. UniSuper Management Pty Ltd increased its stake in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total value of $187,593.75. Following the completion of the sale, the director now owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Confluent news, Director Lara Caimi sold 9,375 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $20.01, for a total transaction of $187,593.75. Following the sale, the director now owns 7,160 shares of the company’s stock, valued at approximately $143,271.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 524,453 shares of company stock valued at $10,833,388. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $30.00 target price (down from $36.00) on shares of Confluent in a report on Thursday, August 1st. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Confluent in a report on Monday, September 23rd. Bank of America lowered their price target on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company reduced their price objective on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Finally, Scotiabank lowered their price objective on Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. One equities 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 stock. According to data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $29.97.

Confluent Trading Down 0.9 %

Shares of NASDAQ CFLT opened at $18.94 on Friday. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $35.07. The business has a fifty day moving average price of $20.68 and a 200 day moving average price of $25.82. The stock has a market capitalization of $6.02 billion, a P/E ratio of -15.15 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $234.99 million during the quarter, compared to the consensus estimate of $229.49 million. Equities research analysts expect that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

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.