Confluent, Inc. (NASDAQ:CFLT) Shares Purchased by LA Financiere DE L Echiquier

LA Financiere DE L Echiquier increased its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 40.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 785,200 shares of the company's stock after buying an additional 227,200 shares during the quarter. Confluent accounts for about 0.8% of LA Financiere DE L Echiquier's portfolio, making the stock its 29th biggest holding. LA Financiere DE L Echiquier owned about 0.26% of Confluent worth $18,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whale Rock Capital Management LLC acquired a new position in shares of Confluent during the 2nd quarter worth approximately $105,594,000. Vanguard Group Inc. raised its position in Confluent by 96.6% during the first quarter. Vanguard Group Inc. now owns 5,063,242 shares of the company's stock worth $207,593,000 after acquiring an additional 2,488,471 shares in the last quarter. Altimeter Capital Management LP lifted its stake in Confluent by 79.9% in the first quarter. Altimeter Capital Management LP now owns 5,306,700 shares of the company's stock valued at $217,575,000 after acquiring an additional 2,356,700 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Confluent in the 4th quarter valued at about $44,837,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Confluent by 18.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company's stock worth $300,320,000 after purchasing an additional 1,938,668 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Price Performance

Confluent stock traded up $0.77 during midday trading on Monday, reaching $30.09. The company's stock had a trading volume of 2,354,452 shares, compared to its average volume of 5,236,123. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $9.41 billion, a PE ratio of -20.47 and a beta of 0.91. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $41.22. The business has a 50-day moving average price of $30.77 and a 200-day moving average price of $26.41.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. The company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. On average, sell-side analysts predict that Confluent, Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling

In related news, CMO Stephanie Buscemi sold 2,724 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the transaction, the chief marketing officer now owns 109,002 shares in the company, valued at approximately $3,504,414.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CMO Stephanie Buscemi sold 2,724 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $87,576.60. Following the completion of the sale, the chief marketing officer now directly owns 109,002 shares in the company, valued at $3,504,414.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the transaction, the insider now directly owns 479,537 shares in the company, valued at $15,225,299.75. The disclosure for this sale can be found here. Insiders have sold 1,433,170 shares of company stock worth $46,438,029 in the last 90 days. Insiders own 22.08% of the company's stock.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of recent analyst reports. DA Davidson reissued a "buy" rating and set a $37.00 price target on shares of Confluent in a research report on Monday, April 1st. Scotiabank raised their price target on Confluent from $22.00 to $28.00 and gave the company a "sector perform" rating in a report on Thursday, February 8th. Barclays upped their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. The Goldman Sachs Group raised their target price on shares of Confluent from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Confluent from $23.00 to $27.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.72.

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.