Lake Street Advisors Group LLC boosted its stake in Confluent, Inc. (NASDAQ:CFLT – Free Report) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,481 shares of the company’s stock after acquiring an additional 2,263 shares during the period. Lake Street Advisors Group LLC’s holdings in Confluent were worth $377,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. SWS Partners acquired a new position in shares of Confluent in the third quarter valued at approximately $802,000. Creative Planning grew its position in Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after buying an additional 49,699 shares during the last quarter. Diversified Trust Co increased its stake in Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after buying an additional 31,729 shares during the period. Handelsbanken Fonder AB raised its position in Confluent by 48.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 67,692 shares of the company’s stock worth $1,380,000 after buying an additional 22,000 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Confluent by 85.0% in the 3rd quarter. SG Americas Securities LLC now owns 85,799 shares of the company’s stock worth $1,749,000 after acquiring an additional 39,427 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.
Insider Activity at Confluent
In related news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at approximately $3,505,070.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lara Caimi sold 9,375 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the sale, the director now directly owns 7,160 shares of the company’s stock, valued at $143,271.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on CFLT
Confluent Price Performance
Shares of Confluent stock opened at $22.53 on Friday. The stock has a market capitalization of $7.16 billion, a P/E ratio of -18.02 and a beta of 0.88. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $20.78 and its 200 day moving average price is $24.81. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $35.07.
Confluent (NASDAQ:CFLT – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. As a group, research analysts anticipate that Confluent, Inc. will post -0.95 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.
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