Baillie Gifford & Co. Invests $13.54 Million in Confluent, Inc. (NASDAQ:CFLT)

Baillie Gifford & Co. bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 443,675 shares of the company’s stock, valued at approximately $13,541,000.

A number of other large investors also recently bought and sold shares of CFLT. Vanguard Group Inc. increased its holdings in Confluent by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 19,071,645 shares of the company’s stock worth $446,276,000 after acquiring an additional 647,251 shares in the last quarter. Coatue Management LLC acquired a new position in shares of Confluent during the 4th quarter worth about $134,132,000. First Trust Advisors LP lifted its stake in Confluent by 15.3% in the 4th quarter. First Trust Advisors LP now owns 5,551,696 shares of the company’s stock valued at $129,910,000 after buying an additional 738,147 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Confluent by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,677 shares of the company’s stock worth $45,201,000 after buying an additional 104,801 shares during the last quarter. Finally, Optimus Prime Fund Management Co. Ltd. increased its stake in Confluent by 12.1% during the 4th quarter. Optimus Prime Fund Management Co. Ltd. now owns 1,613,044 shares of the company’s stock worth $37,745,000 after buying an additional 174,100 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Confluent

In other news, CAO Ying Christina Liu sold 7,261 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $31.96, for a total value of $232,061.56. Following the completion of the sale, the chief accounting officer now directly owns 161,077 shares of the company’s stock, valued at approximately $5,148,020.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Confluent news, CTO Chad Verbowski sold 8,312 shares of Confluent stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $26.76, for a total value of $222,429.12. Following the transaction, the chief technology officer now directly owns 510,347 shares in the company, valued at $13,656,885.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Ying Christina Liu sold 7,261 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $31.96, for a total transaction of $232,061.56. Following the sale, the chief accounting officer now owns 161,077 shares of the company’s stock, valued at approximately $5,148,020.92. The disclosure for this sale can be found here. Insiders have sold 632,725 shares of company stock valued at $18,138,428 in the last ninety days. Insiders own 13.82% of the company’s stock.

Confluent Stock Up 2.6 %

NASDAQ CFLT traded up $0.73 during trading on Friday, reaching $29.31. 1,944,247 shares of the company’s stock were exchanged, compared to its average volume of 3,198,136. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $41.22. The stock has a market cap of $9.32 billion, a P/E ratio of -23.45 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07. The company has a 50 day moving average price of $28.70 and a two-hundred day moving average price of $28.21.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The business had revenue of $217.24 million during the quarter, compared to analyst estimates of $211.57 million. On average, equities research analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CFLT has been the subject of several research reports. Canaccord Genuity Group upgraded Confluent from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, May 8th. JMP Securities raised their price target on shares of Confluent from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. TD Cowen upped their price objective on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised their target price on shares of Confluent from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Mizuho dropped their price target on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.93.

About Confluent

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.