Savant Capital LLC Purchases New Stake in Confluent, Inc. (NASDAQ:CFLT)

Savant Capital LLC purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 379,371 shares of the company’s stock, valued at approximately $10,607,000. Savant Capital LLC owned approximately 0.12% of Confluent as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFLT. Blue Trust Inc. raised its stake in Confluent by 354.0% in the fourth 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 in the last quarter. Point72 Hong Kong Ltd acquired a new position in Confluent during the third quarter worth about $68,000. GAMMA Investing LLC raised its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares in the last quarter. Pacer Advisors Inc. raised its stake in Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after acquiring an additional 1,619 shares in the last quarter. Finally, DMC Group LLC acquired a new position in Confluent during the fourth quarter worth about $201,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank boosted their target price on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Robert W. Baird boosted 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. Mizuho boosted their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Sanford C. Bernstein lowered their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Truist Financial upped their price objective on Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given 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, Confluent presently has an average rating of “Moderate Buy” and an average target price of $32.30.

Insiders Place Their Bets

In related news, CMO Stephanie Buscemi sold 5,271 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $148,800.33. Following the transaction, the chief marketing officer now directly owns 144,373 shares in the company, valued at $4,075,649.79. This trade represents a 3.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kong Phan sold 3,947 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,825,395 shares of company stock worth $85,343,808. Corporate insiders own 13.82% of the company’s stock.

Confluent Price Performance

Confluent stock opened at $31.46 on Tuesday. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of -28.34 and a beta of 0.92. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The stock’s 50 day moving average price is $29.52 and its two-hundred day moving average price is $25.25. 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 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.