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G2 Investment Partners Management LLC Purchases New Shares in Confluent, Inc. (NASDAQ:CFLT)

Confluent logo with Business Services background

G2 Investment Partners Management LLC purchased a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 65,804 shares of the company's stock, valued at approximately $1,540,000.

A number of other large investors also recently modified their holdings of CFLT. Berylson Capital Partners LLC lifted its position in Confluent by 88.1% in the 4th quarter. Berylson Capital Partners LLC now owns 85,400 shares of the company's stock valued at $1,998,000 after purchasing an additional 40,000 shares during the last quarter. Coatue Management LLC bought a new stake in Confluent in the 4th quarter valued at about $134,132,000. Neuberger Berman Group LLC bought a new stake in Confluent in the 4th quarter valued at about $274,000. Optimus Prime Fund Management Co. Ltd. lifted its position in Confluent by 12.1% in the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,613,044 shares of the company's stock valued at $37,745,000 after purchasing an additional 174,100 shares during the last quarter. Finally, Prudential PLC bought a new stake in Confluent in the 4th quarter valued at about $333,000. 78.09% of the stock is currently owned by institutional investors.

Confluent Stock Down 0.3 %

CFLT traded down $0.08 on Thursday, reaching $27.85. 3,713,182 shares of the company traded hands, compared to its average volume of 4,543,447. The stock's 50 day moving average price is $28.88 and its 200-day moving average price is $27.61. Confluent, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The company has a market cap of $8.85 billion, a price-to-earnings ratio of -22.28 and a beta of 0.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07.


Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.04). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The company had revenue of $217.24 million for the quarter, compared to analysts' expectations of $211.57 million. On average, sell-side analysts expect that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Insider Activity at Confluent

In other Confluent news, CAO Ying Christina Liu sold 68,000 shares of Confluent stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $31.06, for a total value of $2,112,080.00. Following the completion of the sale, the chief accounting officer now directly owns 168,338 shares in the company, valued at $5,228,578.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Confluent news, CAO Ying Christina Liu sold 68,000 shares of Confluent stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $31.06, for a total value of $2,112,080.00. Following the completion of the sale, the chief accounting officer now directly owns 168,338 shares in the company, valued at $5,228,578.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Stephanie Buscemi sold 3,794 shares of Confluent stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $31.96, for a total transaction of $121,256.24. Following the completion of the sale, the chief marketing officer now owns 165,539 shares of the company's stock, valued at $5,290,626.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 632,636 shares of company stock valued at $18,176,366. Corporate insiders own 13.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CFLT shares. JMP Securities lifted their price objective on shares of Confluent from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 8th. DA Davidson restated a "buy" rating and set a $37.00 price target on shares of Confluent in a research report on Monday, April 1st. Truist Financial restated a "buy" rating and set a $36.00 price target (up from $33.00) on shares of Confluent in a research report on Wednesday, May 8th. Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Confluent in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Confluent from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $33.11.

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About Confluent

(Free Report)

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.

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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