GSA Capital Partners LLP Acquires 1,938 Shares of Confluent, Inc. (NASDAQ:CFLT)

GSA Capital Partners LLP increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 6.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,461 shares of the company’s stock after acquiring an additional 1,938 shares during the period. GSA Capital Partners LLP’s holdings in Confluent were worth $621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFLT. Diversified Trust Co increased its holdings in Confluent by 110.3% during the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management lifted its holdings in shares of Confluent by 308.3% in the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock worth $9,176,000 after buying an additional 251,507 shares during the period. Pathway Capital Management LP purchased a new stake in shares of Confluent in the 3rd quarter worth $918,000. Sei Investments Co. lifted its holdings in shares of Confluent by 29.1% in the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock worth $9,022,000 after buying an additional 68,880 shares during the period. Finally, Creative Planning lifted its holdings in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after buying an additional 49,699 shares during the period. 78.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CFLT shares. Robert W. Baird upped their target price on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company lowered their target price on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Mizuho upped their target price on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lowered 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Insider Activity at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction on 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 directly owns 452,488 shares in the company, valued at $9,045,235.12. This trade represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Stephanie Buscemi sold 164,123 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $26.24, for a total value of $4,306,587.52. Following the transaction, the chief marketing officer now owns 149,644 shares of the company’s stock, valued at approximately $3,926,658.56. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,308,766 shares of company stock valued at $90,381,635. 13.82% of the stock is currently owned by insiders.

Confluent Price Performance

Shares of Confluent stock opened at $27.51 on Tuesday. The business has a 50 day simple moving average of $22.54 and a two-hundred day simple moving average of $24.55. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The stock has a market capitalization of $9.02 billion, a P/E ratio of -24.78 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, analysts predict that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

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.