Caisse DE Depot ET Placement DU Quebec Has $2.04 Million Holdings in Confluent, Inc. (NASDAQ:CFLT)

Caisse DE Depot ET Placement DU Quebec lowered its holdings in Confluent, Inc. (NASDAQ:CFLT) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,180 shares of the company’s stock after selling 6,747 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Confluent were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Confluent in the second quarter worth $68,000. Acadian Asset Management LLC acquired a new position in shares of Confluent in the 2nd quarter worth approximately $175,000. Plato Investment Management Ltd boosted its stake in Confluent by 2,184.1% in the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after purchasing an additional 6,312 shares in the last quarter. Centaurus Financial Inc. grew its holdings in Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock worth $216,000 after acquiring an additional 3,821 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in shares of Confluent in the second quarter valued at approximately $238,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CFLT shares. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Evercore ISI lowered their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Robert W. Baird increased their price target on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Baird R W upgraded shares of Confluent to a “hold” rating in a research report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Insiders Place Their Bets

In other news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $31.60, for a total transaction of $2,013,836.40. Following the sale, the insider now owns 678,016 shares in the company, valued at approximately $21,425,305.60. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michelangelo Volpi sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $25.92, for a total value of $1,296,000.00. Following the transaction, the director now directly owns 280,200 shares in the company, valued at approximately $7,262,784. This represents a 15.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,005,379 shares of company stock worth $114,176,175 in the last three months. 13.82% of the stock is currently owned by corporate insiders.

Confluent Stock Up 1.7 %

Shares of CFLT opened at $31.53 on Wednesday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The stock’s fifty day moving average price is $24.63 and its two-hundred day moving average price is $24.59. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities research analysts anticipate that Confluent, Inc. will post -0.9 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.