Gilder Gagnon Howe & Co. LLC Invests $3.79 Million in Confluent, Inc. (NASDAQ:CFLT)

Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 135,467 shares of the company's stock, valued at approximately $3,788,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Industriel ET Commercial purchased a new stake in Confluent in the fourth quarter worth $28,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Confluent in the fourth quarter worth $64,658,000. Quantessence Capital LLC purchased a new stake in shares of Confluent during the 4th quarter valued at about $345,000. Greenhouse Funds LLLP raised its stake in Confluent by 102.2% during the 4th quarter. Greenhouse Funds LLLP now owns 1,820,446 shares of the company's stock valued at $50,900,000 after buying an additional 919,997 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Confluent by 2.7% in the fourth quarter. Stifel Financial Corp now owns 42,475 shares of the company's stock valued at $1,188,000 after acquiring an additional 1,136 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Stock Up 3.0 %

Shares of NASDAQ:CFLT traded up $0.58 during midday trading on Friday, reaching $20.02. The company's stock had a trading volume of 8,049,575 shares, compared to its average volume of 4,668,353. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average of $24.66 and a 200-day moving average of $27.40. The firm has a market capitalization of $6.69 billion, a P/E ratio of -18.56 and a beta of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The business had revenue of $271.12 million for the quarter, compared to analysts' expectations of $264.45 million. During the same period last year, the firm posted $0.05 earnings per share. The business's revenue for the quarter was up 24.8% on a year-over-year basis. On average, research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CFLT shares. William Blair reaffirmed an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. Robert W. Baird lowered their price target on shares of Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price target on Confluent from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday. Oppenheimer reduced their price target on Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday. Finally, JMP Securities cut their price objective on Confluent from $40.00 to $36.00 and set a "market outperform" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.28.

Insider Activity

In other Confluent news, insider Erica Schultz sold 150,000 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the completion of the sale, the insider now directly owns 678,016 shares of the company's stock, valued at $24,286,533.12. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $14,628,937.04. The trade was a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,200,746 shares of company stock worth $38,505,150 over the last quarter. Insiders own 13.82% of the company's stock.

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.