Confluent, Inc. (NASDAQ:CFLT) Stock Holdings Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,684 shares of the company's stock after purchasing an additional 12,169 shares during the quarter. Teacher Retirement System of Texas' holdings in Confluent were worth $1,985,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. M&T Bank Corp boosted its holdings in shares of Confluent by 12.3% in the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after acquiring an additional 2,367 shares in the last quarter. Amalgamated Bank increased 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 purchasing an additional 566 shares during the period. Janus Henderson Group PLC increased its position in Confluent by 5.2% during the 4th quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock worth $3,017,000 after purchasing an additional 5,300 shares during the period. SG Americas Securities LLC raised its stake in shares of Confluent by 25.8% during the 1st quarter. SG Americas Securities LLC now owns 26,884 shares of the company's stock worth $630,000 after buying an additional 5,520 shares in the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Confluent in the 4th quarter valued at approximately $347,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CFLT. Piper Sandler reduced their target price on Confluent from $40.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. TD Securities decreased their price objective on shares of Confluent from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. UBS Group increased their target price on shares of Confluent from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus decreased their price target on Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital reduced their price objective on Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $30.19.

Insider Activity at Confluent

In other news, Director Neha Narkhede sold 60,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $19.96, for a total transaction of $1,197,600.00. Following the transaction, the director owned 20,247 shares of the company's stock, valued at approximately $404,130.12. This trade represents a 74.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $24.50, for a total value of $5,696,250.00. Following the transaction, the chief executive officer owned 452,488 shares in the company, valued at $11,085,956. This trade represents a 33.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,669 shares of company stock worth $12,637,193 over the last 90 days. Company insiders own 9.20% of the company's stock.

Confluent Stock Down 1.4%

NASDAQ CFLT traded down $0.34 on Friday, reaching $24.16. The company had a trading volume of 5,692,966 shares, compared to its average volume of 5,013,831. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.42 and a quick ratio of 4.42. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm has a 50-day moving average of $23.40 and a 200-day moving average of $25.74. The firm has a market capitalization of $8.22 billion, a PE ratio of -24.65 and a beta of 0.99.

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

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.