Laurion Capital Management LP purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 40,000 shares of the company’s stock, valued at approximately $1,900,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Berman Capital Advisors LLC acquired a new stake in Confluent in the 2nd quarter valued at about $166,000. Teacher Retirement System of Texas acquired a new stake in Confluent during the 2nd quarter worth about $238,000. AO Asset Management LP acquired a new stake in Confluent during the 2nd quarter worth about $2,375,000. Monashee Investment Management LLC acquired a new stake in Confluent during the 2nd quarter worth about $1,425,000. Finally, GSA Capital Partners LLP acquired a new stake in Confluent during the 2nd quarter worth about $475,000. 17.15% of the stock is owned by institutional investors.
Several analysts have issued reports on CFLT shares. DA Davidson started coverage on Confluent in a report on Wednesday, September 15th. They set a “neutral” rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Confluent in a report on Monday, July 19th. They set a “neutral” rating and a $44.00 price objective on the stock. KeyCorp initiated coverage on Confluent in a report on Monday, July 19th. They issued a “sector weight” rating and a $40.40 target price on the stock. JMP Securities upped their target price on Confluent from $49.00 to $52.00 and gave the company a “market outperform” rating in a report on Friday, August 6th. Finally, UBS Group initiated coverage on Confluent in a report on Monday, July 19th. They issued a “buy” rating and a $46.00 target price on the stock. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.99.
Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.10. The business had revenue of $88.34 million during the quarter, compared to the consensus estimate of $76.48 million. Equities research analysts anticipate that Confluent, Inc. will post -1.95 EPS for the current fiscal year.
Confluent Company Profile
Confluent, Inc engages in developing cloud-native platform for data-in-motion that helps companies to connect their applications around real-time streams in the United States and internationally. The company offers Apache Kafka, a community distributed event streaming platform. Its products also include Confluent Cloud, a managed cloud-native service for Apache Kafka to connect and process data of user companies; Confluent platform, a self-managed platform to connect, process, and react to data in real-time for streaming data from across the organization for customer experiences and data-driven operations; ksqlDB that enables users to build real-time applications; and Confluent hub.
See Also: Outperform Rating
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