Confluent, Inc. (NASDAQ:CFLT) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC raised its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 155.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 80,889 shares of the company’s stock after purchasing an additional 49,214 shares during the quarter. Ieq Capital LLC’s holdings in Confluent were worth $2,262,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CFLT. Creative Planning lifted its holdings in shares of Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Confluent by 14.0% during the third quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock worth $377,000 after purchasing an additional 2,263 shares in the last quarter. US Bancorp DE boosted its position in shares of Confluent by 307.7% in the third quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after buying an additional 12,605 shares during the period. Janney Capital Management LLC grew its stake in shares of Confluent by 52.2% in the third quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock valued at $406,000 after buying an additional 6,842 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Confluent in the third quarter valued at about $21,127,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of a number of analyst reports. Needham & Company LLC upped their price target on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Citigroup upped their target price on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Scotiabank raised their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Bank of America boosted their price objective on shares of Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Finally, Royal Bank of Canada raised their target price on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Activity at Confluent

In related news, CAO Kong Phan sold 3,947 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the sale, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 956,677 shares of company stock worth $31,969,675 in the last ninety days. 13.82% of the stock is owned by insiders.

Confluent Stock Down 4.7 %

NASDAQ:CFLT opened at $31.01 on Monday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average of $29.86 and a 200-day moving average of $26.02. The firm has a market capitalization of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

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.