Xponance Inc. boosted its stake in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) by 50.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,987 shares of the company’s stock after acquiring an additional 8,768 shares during the quarter. Xponance Inc.’s holdings in Confluent were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Altimeter Capital Management LP lifted its holdings in shares of Confluent by 11.5% during the first quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock worth $348,818,000 after purchasing an additional 1,496,443 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Confluent by 18.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock worth $300,320,000 after acquiring an additional 1,938,668 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Confluent by 15.6% in the third quarter. Vanguard Group Inc. now owns 10,877,130 shares of the company’s stock valued at $258,549,000 after acquiring an additional 1,470,650 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Confluent by 1.0% in the third quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock valued at $194,656,000 after acquiring an additional 78,339 shares in the last quarter. Finally, Durable Capital Partners LP increased its stake in shares of Confluent by 6.8% during the first quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock worth $300,496,000 after acquiring an additional 465,214 shares during the period. 59.30% of the stock is currently owned by hedge funds and other institutional investors.
Confluent Trading Down 1.2 %
Shares of Confluent stock opened at $28.90 on Friday. The firm has a market cap of $8.74 billion, a PE ratio of -17.52 and a beta of 0.99. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 1.43. Confluent, Inc. has a fifty-two week low of $16.60 and a fifty-two week high of $41.22. The business’s fifty day moving average is $32.94 and its two-hundred day moving average is $29.87.
Insider Buying and Selling
In other Confluent news, CFO Rohan Sivaram sold 860 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $29.80, for a total transaction of $25,628.00. Following the transaction, the chief financial officer now owns 332,648 shares of the company’s stock, valued at $9,912,910.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CTO Chad Verbowski sold 8,745 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $32.14, for a total value of $281,064.30. Following the transaction, the chief technology officer now directly owns 435,322 shares in the company, valued at approximately $13,991,249.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 860 shares of Confluent stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $29.80, for a total value of $25,628.00. Following the completion of the transaction, the chief financial officer now directly owns 332,648 shares in the company, valued at $9,912,910.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 511,027 shares of company stock valued at $16,989,244. Insiders own 22.08% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Mizuho upped their price objective on Confluent from $28.00 to $40.00 in a report on Wednesday, June 14th. Canaccord Genuity Group initiated coverage on shares of Confluent in a report on Friday, September 1st. They issued a “buy” rating and a $40.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $20.00 to $31.00 in a report on Wednesday, June 14th. UBS Group upped their target price on shares of Confluent from $24.00 to $39.00 in a research report on Wednesday, June 14th. Finally, Citigroup lifted their price target on shares of Confluent from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.
Get Our Latest Analysis on CFLT
About Confluent
Confluent, Inc operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data.
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