200,000 Shares in Confluent, Inc. $CFLT Acquired by Alight Capital Management LP

Key Points

• Alight Capital Management LP acquired a new stake of 200,000 shares in Confluent in Q3, valued at about $3.96 million and representing roughly 0.06% of the company; institutional investors now own about 78.09% of the stock.
• Company insiders have been net sellers — the CFO sold 29,996 shares and a director sold 25,000 shares, and insiders have sold a total of 767,245 shares (≈$23.4 million) over the past 90 days while still holding 9.20% of shares.
• Confluent beat quarterly EPS and revenue (EPS $0.12 vs. $0.10 expected; revenue $314.8M, +20.5% YoY) but remains unprofitable with negative margins, and analysts have a consensus "Hold" rating with a $28.71 price target below the current share price.

Alight Capital Management LP acquired a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the company's stock, valued at approximately $3,960,000. Alight Capital Management LP owned approximately 0.06% of Confluent as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in Confluent by 655.7% in the second quarter. Hsbc Holdings PLC now owns 243,596 shares of the company's stock valued at $6,013,000 after purchasing an additional 211,360 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in Confluent during the 2nd quarter worth approximately $499,000. Neuberger Berman Group LLC purchased a new stake in Confluent during the 2nd quarter worth approximately $305,000. First Trust Advisors LP raised its position in shares of Confluent by 15.7% in the 2nd quarter. First Trust Advisors LP now owns 4,555,913 shares of the company's stock valued at $113,579,000 after purchasing an additional 616,822 shares in the last quarter. Finally, Meridian Wealth Management LLC acquired a new position in shares of Confluent in the 2nd quarter valued at approximately $394,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Transactions at Confluent

In other news, CFO Rohan Sivaram sold 29,996 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $30.67, for a total transaction of $919,977.32. Following the sale, the chief financial officer directly owned 531,971 shares in the company, valued at approximately $16,315,550.57. This represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michelangelo Volpi sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.59, for a total value of $764,750.00. Following the completion of the sale, the director directly owned 155,512 shares in the company, valued at approximately $4,757,112.08. This trade represents a 13.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 767,245 shares of company stock valued at $23,386,655 over the last ninety days. Insiders own 9.20% of the company's stock.

Confluent Stock Down 0.1%

Shares of NASDAQ:CFLT opened at $30.67 on Friday. The company's fifty day moving average is $30.56 and its two-hundred day moving average is $25.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $30.81. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of -35.66 and a beta of 0.95.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The business had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. During the same period in the previous year, the business posted $0.09 EPS. The company's quarterly revenue was up 20.5% on a year-over-year basis. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

CFLT has been the subject of a number of recent analyst reports. Sanford C. Bernstein downgraded shares of Confluent from an "outperform" rating to a "market perform" rating and set a $31.00 price target for the company. in a research report on Friday, January 23rd. Oppenheimer cut shares of Confluent from an "outperform" rating to a "market perform" rating in a report on Tuesday, December 9th. Robert W. Baird increased their price objective on shares of Confluent from $26.00 to $31.00 and gave the company a "neutral" rating in a research note on Tuesday, December 9th. Wolfe Research lowered shares of Confluent from an "outperform" rating to a "hold" rating in a report on Monday, December 8th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $31.00 target price on shares of Confluent in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of "Hold" and a consensus price target of $28.71.

Confluent Company Profile

Confluent, Inc NASDAQ: CFLT is a leading provider of an event streaming platform built on Apache Kafka. The company's flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.

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