Pathway Capital Management LP Takes $644,000 Position in Confluent, Inc. (NASDAQ:CFLT)

Pathway Capital Management LP bought a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 27,528 shares of the company's stock, valued at approximately $644,000. Confluent accounts for 0.7% of Pathway Capital Management LP's investment portfolio, making the stock its 13th largest holding.

A number of other large investors have also recently added to or reduced their stakes in CFLT. Vanguard Group Inc. boosted its position in shares of Confluent by 13.0% during the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company's stock worth $545,546,000 after buying an additional 2,125,843 shares during the period. Invesco Ltd. boosted its position in Confluent by 14.0% during the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company's stock worth $113,230,000 after acquiring an additional 470,002 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Confluent by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,677 shares of the company's stock worth $45,201,000 after acquiring an additional 104,801 shares in the last quarter. Trivest Advisors Ltd bought a new stake in shares of Confluent in the fourth quarter worth $31,145,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Confluent in the fourth quarter worth $29,833,000. Institutional investors own 78.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CFLT shares. Scotiabank lifted their price target on shares of Confluent from $22.00 to $28.00 and gave the company a "sector perform" rating in a research note on Thursday, February 8th. Loop Capital began coverage on Confluent in a research report on Tuesday, January 30th. They set a "hold" rating and a $23.00 price target for the company. UBS Group boosted their price target on Confluent from $21.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, February 5th. Stifel Nicolaus started coverage on Confluent in a research note on Wednesday, February 21st. They set a "buy" rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price 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 equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.04.

Confluent Stock Performance

Confluent stock traded up $0.70 during midday trading on Friday, hitting $32.23. The company's stock had a trading volume of 2,645,770 shares, compared to its average volume of 4,109,078. The company has a 50-day moving average price of $29.84 and a two-hundred day moving average price of $26.45. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $41.22. The company has a market cap of $10.24 billion, a price-to-earnings ratio of -25.78 and a beta of 0.93. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07.

Insider Activity

In other news, CAO Ying Christina Liu sold 4,109 shares of the company's stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $32.46, for a total transaction of $7,546,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ying Christina Liu sold 4,109 shares of the firm's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,277 shares of company stock worth $28,572,424. Corporate insiders own 13.82% of the company's stock.

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.