Aigen Investment Management LP Invests $514,000 in Confluent, Inc. (NASDAQ:CFLT)

Key Points

• Aigen Investment Management LP has purchased a new stake in Confluent, Inc., acquiring 21,926 shares valued at approximately $514,000 during the first quarter.
• Insider transactions show that Director Eric Vishria sold 15,476 shares at an average price of $25.00, resulting in a decrease of 1.32% in his holdings.
• Confluent's stock has a consensus rating of "Moderate Buy" with an average price target of $27.36, according to recent reports by multiple analysts.

Aigen Investment Management LP bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,926 shares of the company's stock, valued at approximately $514,000.

Several other institutional investors have also bought and sold shares of the stock. ProShare Advisors LLC lifted its holdings in Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company's stock worth $301,000 after purchasing an additional 328 shares in the last quarter. Amalgamated Bank grew its position in Confluent by 3.4% during the 1st quarter. Amalgamated Bank now owns 16,995 shares of the company's stock worth $398,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after buying an additional 661 shares during the last quarter. Jasper Ridge Partners L.P. grew its position in shares of Confluent by 4.8% in the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company's stock worth $403,000 after buying an additional 664 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Confluent by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 108,859 shares of the company's stock valued at $3,044,000 after purchasing an additional 680 shares during the period. Institutional investors own 78.09% of the company's stock.

Confluent Trading Down 0.3%

CFLT traded down $0.06 during trading on Friday, reaching $17.79. 10,371,097 shares of the company's stock were exchanged, compared to its average volume of 11,541,307. The company's fifty day moving average price is $23.10 and its 200-day moving average price is $24.61. The firm has a market capitalization of $6.13 billion, a PE ratio of -18.93 and a beta of 0.96. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $37.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.98 and a current ratio of 3.98.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Confluent had a negative net margin of 29.27% and a negative return on equity of 27.34%. The firm had revenue of $282.29 million for the quarter, compared to analyst estimates of $278.32 million. During the same period in the previous year, the business earned $0.06 EPS. The company's revenue was up 20.1% compared to the same quarter last year. As a group, equities analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on CFLT. Cowen cut Confluent from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. DA Davidson dropped their price objective on Confluent from $32.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, July 31st. Stephens started coverage on Confluent in a research note on Friday, July 18th. They issued an "overweight" rating and a $31.00 price target for the company. Stifel Nicolaus reaffirmed a "hold" rating and set a $21.00 target price (down from $30.00) on shares of Confluent in a report on Thursday, July 31st. Finally, Royal Bank Of Canada dropped their price objective on Confluent from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.36.

Insider Activity at Confluent

In other news, CFO Rohan Sivaram sold 27,710 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $21.83, for a total transaction of $604,909.30. Following the transaction, the chief financial officer directly owned 673,693 shares in the company, valued at $14,706,718.19. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Neha Narkhede sold 20,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $22.82, for a total transaction of $456,400.00. Following the completion of the transaction, the director owned 20,247 shares in the company, valued at approximately $462,036.54. This trade represents a 49.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 463,169 shares of company stock worth $10,906,848 over the last ninety days. Company insiders own 9.20% 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.