Dimensional Fund Advisors LP Boosts Holdings in Confluent, Inc. (NASDAQ:CFLT)

Dimensional Fund Advisors LP raised its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 40.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,043 shares of the company's stock after acquiring an additional 60,346 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of Confluent worth $5,819,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. grew its position in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Confluent during the 4th quarter valued at about $59,000. GAMMA Investing LLC raised its holdings in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after buying an additional 1,136 shares during the last quarter. AlphaQuest LLC grew its position in Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock valued at $99,000 after buying an additional 3,538 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock worth $138,000 after acquiring an additional 1,613 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CFLT shares. TD Securities dropped their price target on shares of Confluent from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital dropped their target price on Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Scotiabank reduced their price objective on Confluent from $35.00 to $24.00 and set a "sector perform" rating for the company in a research report on Thursday, April 24th. Bank of America boosted their target price on Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research note on Wednesday, February 12th. Finally, William Blair restated an "outperform" rating on shares of Confluent in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Confluent currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Confluent Price Performance

CFLT stock traded up $0.78 during trading on Tuesday, hitting $23.12. The stock had a trading volume of 6,414,361 shares, compared to its average volume of 4,727,481. The stock has a market capitalization of $7.87 billion, a P/E ratio of -21.41 and a beta of 1.02. The company's 50-day moving average price is $23.10 and its two-hundred day moving average price is $27.36. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 earnings per share. As a group, research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Neha Narkhede sold 60,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $19.96, for a total transaction of $1,197,600.00. Following the completion of the transaction, the director now owns 20,247 shares in the company, valued at approximately $404,130.12. The trade was a 74.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Kong Phan sold 3,175 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the sale, the chief accounting officer now owns 246,516 shares of the company's stock, valued at approximately $6,621,419.76. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,260,746 shares of company stock valued at $39,702,750 over the last ninety days. Corporate insiders own 9.20% of the company's stock.

About Confluent

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.