Oppenheimer & Co. Inc. Boosts Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Oppenheimer & Co. Inc. grew its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 152.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 68,613 shares of the company’s stock after purchasing an additional 41,431 shares during the period. Oppenheimer & Co. Inc.’s holdings in Confluent were worth $1,398,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CFLT. V Square Quantitative Management LLC purchased a new stake in shares of Confluent during the second quarter valued at approximately $68,000. UniSuper Management Pty Ltd grew its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after buying an additional 1,167 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Confluent during the second quarter valued at approximately $175,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Stock Up 1.6 %

Shares of CFLT stock opened at $27.51 on Tuesday. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of -24.78 and a beta of 0.82. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company’s fifty day moving average price is $22.54 and its 200-day moving average price is $24.55. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Sell-side analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CFLT shares. Truist Financial restated a “buy” rating and issued a $30.00 target price (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. Barclays raised their target price on shares of Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Citigroup raised their target price on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Mizuho raised their target price on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.88.

Insider Buying and Selling at Confluent

In other Confluent news, Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. This represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,308,766 shares of company stock worth $90,381,635. 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.