Impax Asset Management Group plc Raises Holdings in Confluent, Inc. (NASDAQ:CFLT)

Impax Asset Management Group plc increased its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,311 shares of the company's stock after purchasing an additional 12,399 shares during the quarter. Impax Asset Management Group plc's holdings in Confluent were worth $804,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CFLT. SBI Securities Co. Ltd. purchased a new stake in Confluent in the fourth quarter worth $59,000. Charles Schwab Investment Management Inc. grew its position in shares of Confluent by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company's stock worth $65,860,000 after buying an additional 71,454 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Confluent by 135.7% during the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after buying an additional 373,682 shares in the last quarter. Assetmark Inc. grew its position in shares of Confluent by 4.3% during the 4th quarter. Assetmark Inc. now owns 38,500 shares of the company's stock worth $1,076,000 after buying an additional 1,575 shares in the last quarter. Finally, Atria Investments Inc bought a new position in shares of Confluent during the 4th quarter worth $347,000. Institutional investors own 78.09% of the company's stock.

Confluent Trading Down 1.8%

Confluent stock traded down $0.48 during trading on Monday, reaching $25.82. 4,697,307 shares of the company were exchanged, compared to its average volume of 5,011,569. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.42 and a quick ratio of 4.42. The company has a market capitalization of $8.79 billion, a P/E ratio of -26.35 and a beta of 0.99. The stock's 50 day simple moving average is $23.11 and its two-hundred day simple moving average is $25.88.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Confluent had a negative return on equity of 29.92% and a negative net margin of 31.42%. The company had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company's revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Confluent

In related news, Director Eric Vishria sold 15,476 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $25.00, for a total value of $386,900.00. Following the sale, the director owned 1,154,400 shares in the company, valued at approximately $28,860,000. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Ban Ryan Norris Mac sold 1,225 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $23.49, for a total value of $28,775.25. Following the completion of the sale, the executive owned 411,830 shares in the company, valued at $9,673,886.70. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 546,669 shares of company stock worth $12,637,193. 13.82% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CFLT. William Blair reissued an "outperform" rating on shares of Confluent in a research report on Monday, March 17th. UBS Group dropped their price target on Confluent from $38.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Truist Financial dropped their price target on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Scotiabank dropped their price objective on Confluent from $35.00 to $24.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James Financial began coverage on Confluent in a research report on Friday, April 11th. They set an "outperform" rating and a $30.00 price objective on the stock. One investment 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.11.

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.