Jasper Ridge Partners L.P. Purchases 664 Shares of Confluent, Inc. (NASDAQ:CFLT)

Jasper Ridge Partners L.P. boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 4.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,409 shares of the company’s stock after buying an additional 664 shares during the quarter. Jasper Ridge Partners L.P.’s holdings in Confluent were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CFLT. Credit Industriel ET Commercial bought a new position in shares of Confluent during the fourth quarter valued at about $28,000. Blue Trust Inc. increased its holdings in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. bought a new position in Confluent during the 4th quarter valued at approximately $59,000. GAMMA Investing LLC lifted its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after buying an additional 3,538 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Activity

In other Confluent news, CAO Kong Phan sold 2,178 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $68,781.24. Following the completion of the transaction, the chief accounting officer now 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 filing with the Securities & Exchange Commission, 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 completion of the sale, the director now owns 292,079 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 1,260,746 shares of company stock valued at $39,702,750. 9.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CFLT has been the subject of a number of recent analyst reports. Truist Financial decreased their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Canaccord Genuity Group dropped their target price on shares of Confluent from $38.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. DA Davidson reduced their price target on shares of Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Guggenheim lowered their price objective on shares of Confluent from $38.00 to $31.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Barclays reduced their target price on Confluent from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.11.

Confluent Stock Down 1.6 %

Shares of NASDAQ:CFLT opened at $20.65 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -19.12 and a beta of 1.02. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. 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 company has a 50-day moving average price of $23.40 and a 200 day moving average price of $27.36.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the company earned $0.05 EPS. As a group, equities research 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.