Marshall Wace LLP Grows Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Marshall Wace LLP lifted its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 119.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 346,691 shares of the company's stock after buying an additional 188,597 shares during the period. Marshall Wace LLP owned approximately 0.11% of Confluent worth $9,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Confluent by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company's stock valued at $694,207,000 after acquiring an additional 599,582 shares during the period. Geode Capital Management LLC raised its position in shares of Confluent by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock valued at $123,339,000 after buying an additional 84,163 shares in the last quarter. Norges Bank bought a new stake in shares of Confluent during the 4th quarter worth approximately $81,092,000. Charles Schwab Investment Management Inc. increased its stake in Confluent by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company's stock valued at $65,860,000 after acquiring an additional 71,454 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company's stock valued at $65,748,000 after purchasing an additional 2,319,919 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $13,285,047.68. This trade represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Kong Phan sold 6,346 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $229,852.12. Following the transaction, the chief accounting officer now directly owns 179,593 shares in the company, valued at $6,504,858.46. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock worth $38,505,150 in the last quarter. 13.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CFLT shares. Guggenheim reaffirmed a "buy" rating and issued a $38.00 target price on shares of Confluent in a report on Wednesday. Loop Capital lowered their price objective on shares of Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a research report on Wednesday. Barclays cut their target price on shares of Confluent from $37.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Truist Financial dropped their price target on Confluent from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Confluent in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $33.39.

Confluent Stock Up 3.7 %

Shares of Confluent stock traded up $0.87 on Friday, hitting $24.13. The company had a trading volume of 4,467,632 shares, compared to its average volume of 4,519,464. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a 50 day moving average of $25.39 and a 200-day moving average of $27.45. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of -22.34 and a beta of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

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.