LMR Partners LLP Has $414,000 Stock Position in Confluent, Inc. (NASDAQ:CFLT)

LMR Partners LLP lessened its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 88.7% during the third quarter, Holdings Channel.com reports. The firm owned 20,318 shares of the company’s stock after selling 159,364 shares during the quarter. LMR Partners LLP’s holdings in Confluent were worth $414,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Confluent during the second quarter worth about $68,000. UniSuper Management Pty Ltd raised its holdings in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Confluent during the second quarter worth $175,000. Institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, Director Matthew Craig Miller sold 1,084,259 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Wednesday, September 4th. The stock was 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 directly owns 452,488 shares in the company, valued at approximately $9,045,235.12. This represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,308,766 shares of company stock worth $90,381,635. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CFLT shares. Stifel Nicolaus dropped their target price on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird raised their target price on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup boosted their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Confluent Trading Up 2.8 %

NASDAQ CFLT opened at $28.29 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $24.55. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The firm has a market capitalization of $9.28 billion, a P/E ratio of -25.49 and a beta of 0.82.

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