Natixis Advisors LLC Buys Shares of 29,097 Confluent, Inc. (NASDAQ:CFLT)

Natixis Advisors LLC bought a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 29,097 shares of the company's stock, valued at approximately $682,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CFLT. Cloud Capital Management LLC acquired a new position in Confluent in the 1st quarter valued at about $26,000. Credit Industriel ET Commercial acquired a new position in Confluent in the 4th quarter valued at about $28,000. Versant Capital Management Inc boosted its holdings in Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after purchasing an additional 1,647 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after purchasing an additional 661 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Confluent in the 4th quarter valued at about $153,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CFLT. Wells Fargo & Company decreased their price objective on shares of Confluent from $30.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Canaccord Genuity Group decreased their price objective on shares of Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Scotiabank decreased their price objective on shares of Confluent from $35.00 to $24.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of Confluent from $32.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Needham & Company LLC decreased their price objective on shares of Confluent from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.36.

Confluent Trading Down 3.5%

Shares of NASDAQ:CFLT opened at $16.33 on Monday. Confluent, Inc. has a 52 week low of $16.19 and a 52 week high of $37.90. The company's 50 day moving average is $23.77 and its two-hundred day moving average is $24.98. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.03. The company has a market cap of $5.63 billion, a PE ratio of -17.37 and a beta of 0.96.

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

Insider Transactions at Confluent

In related news, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $25.00, for a total value of $625,000.00. Following the transaction, the director directly owned 267,079 shares of the company's stock, valued at $6,676,975. This trade represents a 8.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric Vishria sold 30,953 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $21.93, for a total transaction of $678,799.29. Following the completion of the transaction, the director directly owned 1,169,876 shares in the company, valued at $25,655,380.68. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 486,669 shares of company stock worth $11,439,593. Insiders own 13.82% of the company's stock.

Confluent Company 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.

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