246,659 Shares in Confluent, Inc. (NASDAQ:CFLT) Acquired by Flight Deck Capital LP

Flight Deck Capital LP acquired a new stake in Confluent, Inc. (NASDAQ:CFLT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 246,659 shares of the company’s stock, valued at approximately $6,897,000. Confluent makes up about 7.7% of Flight Deck Capital LP’s holdings, making the stock its 5th biggest position.

Several other large investors have also recently added to or reduced their stakes in CFLT. Circle Wealth Management LLC grew its stake in shares of Confluent by 32.7% in the fourth quarter. Circle Wealth Management LLC now owns 40,022 shares of the company’s stock valued at $1,119,000 after acquiring an additional 9,872 shares in the last quarter. Crestline Management LP bought a new stake in Confluent in the 4th quarter valued at about $3,181,000. Cetera Investment Advisers grew its position in shares of Confluent by 31.8% during the 4th quarter. Cetera Investment Advisers now owns 65,157 shares of the company’s stock worth $1,822,000 after purchasing an additional 15,711 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Confluent during the fourth quarter worth approximately $211,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Confluent in the fourth quarter valued at approximately $226,000. Institutional investors own 78.09% of the company’s stock.

Confluent Trading Down 1.6 %

CFLT opened at $20.65 on Friday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a fifty day moving average of $23.40 and a 200-day moving average of $27.31. The stock has a market cap of $6.90 billion, a PE ratio of -19.12 and a beta of 1.02. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The firm had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the sale, the chief accounting officer now owns 179,593 shares of the company’s stock, valued at $6,504,858.46. The trade was a 3.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,260,746 shares of company stock valued at $39,702,750. 13.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CFLT. TD Securities reduced their price target on Confluent from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus decreased their price target on Confluent from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Loop Capital cut their price objective on shares of Confluent from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Evercore ISI decreased their target price on shares of Confluent from $29.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial cut their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six 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. According to data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $30.11.

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.