223,757 Shares in Confluent, Inc. (NASDAQ:CFLT) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Confluent, Inc., purchasing 223,757 shares valued at approximately $5,245,000, increasing its holdings to 0.07% of the company.
• Multiple institutional investors have adjusted their positions in Confluent, with Principal Financial Group Inc. raising its holdings by 47.3% to own 528,171 shares valued at $12,380,000.
• Confluent's recent earnings report showed a revenue of $271.12 million for the quarter, surpassing expectations, although the company reported a negative net margin of 31.42%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 223,757 shares of the company's stock, valued at approximately $5,245,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Confluent as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock valued at $323,000 after purchasing an additional 458 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Confluent by 12.7% in the fourth quarter. Sei Investments Co. now owns 445,585 shares of the company's stock valued at $12,459,000 after buying an additional 50,340 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Confluent in the fourth quarter valued at $1,356,000. LPL Financial LLC increased its holdings in shares of Confluent by 43.7% in the fourth quarter. LPL Financial LLC now owns 66,726 shares of the company's stock valued at $1,866,000 after buying an additional 20,300 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Confluent by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company's stock valued at $694,207,000 after buying an additional 599,582 shares in the last quarter. Institutional investors own 78.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Eric Vishria sold 15,476 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $25.00, for a total value of $386,900.00. Following the completion of the sale, the director owned 1,154,400 shares in the company, valued at approximately $28,860,000. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $24.50, for a total transaction of $5,696,250.00. Following the completion of the sale, the chief executive officer owned 452,488 shares of the company's stock, valued at approximately $11,085,956. The trade was a 33.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 546,669 shares of company stock valued at $12,637,193 in the last quarter. 9.20% of the stock is currently owned by insiders.

Confluent Stock Performance

CFLT stock traded down $8.52 during mid-day trading on Thursday, reaching $17.88. 24,905,348 shares of the stock traded hands, compared to its average volume of 5,989,628. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07. Confluent, Inc. has a 52 week low of $17.51 and a 52 week high of $37.90. The business has a 50-day moving average of $24.51 and a two-hundred day moving average of $25.51. The firm has a market capitalization of $6.09 billion, a PE ratio of -18.12 and a beta of 0.99.

Confluent (NASDAQ:CFLT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 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 $282.29 million during the quarter, compared to analysts' expectations of $278.32 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm's revenue was up 20.1% on a year-over-year basis. As a group, equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CFLT shares. UBS Group dropped their price target on Confluent from $32.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday. Citigroup reaffirmed a "neutral" rating on shares of Confluent in a report on Wednesday, May 21st. Stifel Nicolaus reiterated a "hold" rating and set a $21.00 price objective (down from $30.00) on shares of Confluent in a research report on Thursday. Truist Financial lowered their price objective on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reiterated an "overweight" rating and set a $31.00 price objective (up from $27.00) on shares of Confluent in a research report on Monday, July 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.66.

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.