Confluent, Inc. $CFLT is Optimus Prime Fund Management Co. Ltd.'s 4th Largest Position

Key Points

• Optimus Prime Fund Management raised its Confluent stake 16.8% in the quarter to 5,920,000 shares (added 850,000), making CFLT its 4th-largest position and representing 10.4% of the fund (1.69% of Confluent, ~$117.2M).
• Insiders have been net sellers: CFO Rohan Sivaram sold 29,996 shares and Director Michelangelo Volpi sold 25,000, and insiders disposed of 767,245 shares (~$23.4M) over the past 90 days, lowering insider ownership to 9.20%.
• Confluent beat quarterly EPS estimates ($0.12 vs. $0.10) and saw revenue of $314.8M (+20.5% YoY) but remains unprofitable (net margin -25.31%, ROE -22.66%); analysts have a consensus "Hold" rating and an average target of $28.71.

Optimus Prime Fund Management Co. Ltd. raised its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 16.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,920,000 shares of the company's stock after purchasing an additional 850,000 shares during the quarter. Confluent accounts for 10.4% of Optimus Prime Fund Management Co. Ltd.'s portfolio, making the stock its 4th largest position. Optimus Prime Fund Management Co. Ltd. owned 1.69% of Confluent worth $117,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in shares of Confluent by 133.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 942,303 shares of the company's stock valued at $22,088,000 after buying an additional 537,874 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Confluent in the first quarter worth $332,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Confluent in the second quarter worth $260,000. Acadian Asset Management LLC acquired a new stake in Confluent in the second quarter valued at $4,209,000. Finally, ProShare Advisors LLC raised its holdings in Confluent by 34.1% in the second quarter. ProShare Advisors LLC now owns 14,311 shares of the company's stock valued at $357,000 after acquiring an additional 3,639 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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 stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of -35.66 and a beta of 0.95. Confluent, Inc. has a 1-year low of $15.64 and a 1-year high of $30.81. The company's fifty day moving average is $30.56 and its two-hundred day moving average is $25.84. 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 (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. During the same period last year, the firm posted $0.09 EPS. The company's revenue for the quarter 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.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent analyst reports. Sanford C. Bernstein lowered shares of Confluent from an "outperform" rating to a "market perform" rating and set a $31.00 price objective for the company. in a report on Friday, January 23rd. Citigroup upped their target price 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. Citizens Jmp cut shares of Confluent from an "outperform" rating to a "market perform" rating in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft set a $31.00 price target on Confluent and gave the stock a "hold" rating in a research note on Monday, December 8th. Finally, Robert W. Baird boosted their price objective on Confluent from $26.00 to $31.00 and gave the company a "neutral" rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.71.

About Confluent

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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