Confluent, Inc. (NASDAQ:CFLT) Shares Sold by AlpInvest Partners B.V.

AlpInvest Partners B.V. decreased its position in Confluent, Inc. (NASDAQ:CFLT) by 73.8% during the 4th quarter, Holdings Channel reports. The fund owned 43,325 shares of the company’s stock after selling 121,871 shares during the quarter. Confluent comprises about 1.3% of AlpInvest Partners B.V.’s holdings, making the stock its 9th biggest position. AlpInvest Partners B.V.’s holdings in Confluent were worth $1,211,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CFLT. Stifel Financial Corp increased its position in Confluent by 112.3% during the 3rd quarter. Stifel Financial Corp now owns 41,339 shares of the company’s stock worth $842,000 after purchasing an additional 21,864 shares during the period. Orion Portfolio Solutions LLC purchased a new stake in shares of Confluent in the third quarter valued at approximately $605,000. Y Intercept Hong Kong Ltd acquired a new position in Confluent during the third quarter worth $634,000. Geode Capital Management LLC raised its position in Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock worth $88,180,000 after acquiring an additional 107,510 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in Confluent by 11,796.1% in the third quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after acquiring an additional 12,150 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Confluent news, CAO Kong Phan sold 2,178 shares of Confluent stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the transaction, the chief accounting officer now directly owns 177,415 shares in the company, valued at $5,602,765.70. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the sale, the director now owns 292,079 shares in the company, valued at $10,579,101.38. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock worth $38,505,150 over the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CFLT. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $38.00 in a report on Wednesday, February 26th. Truist Financial dropped their target price on shares of Confluent from $40.00 to $35.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company boosted their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Raymond James started coverage on Confluent in a research note on Friday. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Guggenheim boosted their target price on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $34.96.

Confluent Trading Up 1.4 %

NASDAQ CFLT opened at $21.51 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $7.18 billion, a P/E ratio of -19.92 and a beta of 1.03. The company has a 50-day moving average of $27.64 and a 200-day moving average of $27.34. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, equities analysts predict that Confluent, Inc. will post -0.83 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.