GAMMA Investing LLC Acquires 1,136 Shares of Confluent, Inc. (NASDAQ:CFLT)

GAMMA Investing LLC increased its holdings in Confluent, Inc. (NASDAQ:CFLT) by 85.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,467 shares of the company’s stock after buying an additional 1,136 shares during the quarter. GAMMA Investing LLC’s holdings in Confluent were worth $69,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its stake in shares of Confluent by 3.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the period. Truist Financial Corp grew its position in Confluent by 5.3% in the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock valued at $721,000 after acquiring an additional 1,238 shares during the period. Elo Mutual Pension Insurance Co raised its stake in Confluent by 8.4% during the second quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock worth $551,000 after acquiring an additional 1,448 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Confluent by 14.0% during the second quarter. Daiwa Securities Group Inc. now owns 13,800 shares of the company’s stock worth $408,000 after acquiring an additional 1,700 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Confluent by 16.0% during the second quarter. ProShare Advisors LLC now owns 13,589 shares of the company’s stock valued at $401,000 after acquiring an additional 1,870 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

CFLT has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a report on Tuesday, October 29th. TD Cowen raised their price objective on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Scotiabank boosted their target price on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Sanford C. Bernstein decreased their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price objective on Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $32.46.

Confluent Stock Performance

Shares of Confluent stock opened at $27.64 on Monday. The firm has a fifty day moving average of $29.60 and a two-hundred day moving average of $24.98. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of -24.90 and a beta of 0.91. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. As a group, equities research analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Insider Activity at Confluent

In other news, Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10. Following the completion of the transaction, the director now owns 12,559 shares of the company’s stock, valued at $362,955.10. The trade was a 98.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chad Verbowski sold 13,414 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the sale, the chief technology officer now owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,584,712 shares of company stock worth $132,928,936 in the last ninety days. Company 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.