Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Canada Pension Plan Investment Board

Posted by Defense World Staff on Feb 28th, 2023

Canada Pension Plan Investment Board boosted its stake in shares of Confluent, Inc. (NASDAQ:CFLT – Get Rating) by 48.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 60,000 shares of the company’s stock after purchasing an additional 19,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Confluent were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. acquired a new stake in Confluent during the 1st quarter worth about $30,000. Geneos Wealth Management Inc. acquired a new stake in Confluent during the 1st quarter worth about $43,000. US Bancorp DE acquired a new stake in Confluent during the 3rd quarter worth about $31,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Confluent during the 2nd quarter valued at about $41,000. Finally, Penserra Capital Management LLC grew its position in shares of Confluent by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock valued at $78,000 after acquiring an additional 642 shares during the period. 40.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $20.97, for a total value of $4,875,525.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $20.97, for a total value of $4,875,525.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Chad Verbowski sold 7,668 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $23.11, for a total transaction of $177,207.48. Following the sale, the senior vice president now owns 330,723 shares in the company, valued at $7,643,008.53. The disclosure for this sale can be found here. Insiders sold 1,718,418 shares of company stock valued at $43,527,897 in the last 90 days. Company insiders own 27.94% of the company’s stock.

Confluent Stock Down 0.6 %

Shares of NASDAQ CFLT opened at $24.07 on Tuesday. The company has a 50 day simple moving average of $23.07 and a 200-day simple moving average of $24.09. The company has a market capitalization of $6.89 billion, a P/E ratio of -14.95 and a beta of 1.01. The company has a debt-to-equity ratio of 1.38, a current ratio of 5.74 and a quick ratio of 5.74. Confluent, Inc. has a 1 year low of $16.48 and a 1 year high of $45.08.

Confluent (NASDAQ:CFLT – Get Rating) last issued its quarterly earnings data on Monday, January 30th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. Confluent had a negative return on equity of 54.99% and a negative net margin of 77.24%. The business had revenue of $168.70 million during the quarter, compared to analysts’ expectations of $162.53 million. During the same period in the previous year, the firm posted ($0.43) earnings per share. The company’s revenue was up 40.7% on a year-over-year basis. On average, equities research analysts predict that Confluent, Inc. will post -1.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Piper Sandler dropped their target price on Confluent from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Credit Suisse Group dropped their target price on Confluent from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Moffett Nathanson assumed coverage on Confluent in a research report on Monday, February 13th. They set an “outperform” rating and a $36.00 target price on the stock. Truist Financial dropped their target price on Confluent from $35.00 to $30.00 in a research report on Monday, January 9th. Finally, FBN Securities assumed coverage on shares of Confluent in a research note on Tuesday, January 17th. They issued an “outperform” rating and a $30.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Confluent Company Profile

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.