DMC Group LLC Takes $201,000 Position in Confluent, Inc. (NASDAQ:CFLT)

DMC Group LLC purchased a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,200 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% during 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 during the last quarter. Point72 Hong Kong Ltd bought a new stake in Confluent in the third quarter worth $68,000. GAMMA Investing LLC grew its stake in shares of Confluent by 85.3% in 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 during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new position in Confluent in the 4th quarter worth about $203,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $31.00 target price on shares of Confluent in a research note on Friday, November 15th. Royal Bank of Canada boosted their price target on Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $30.00 price objective (down from $33.00) on shares of Confluent in a report on Thursday, January 16th. Finally, Truist Financial upped their target price on shares of Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average target price of $32.37.

Insider Buying and Selling at Confluent

In other news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the transaction, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michelangelo Volpi sold 50,000 shares of the stock in a transaction on 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 sale, the director now owns 280,200 shares in the company, valued at $7,262,784. The trade was a 15.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,584,712 shares of company stock worth $132,928,936 over the last 90 days. 13.82% of the stock is owned by insiders.

Confluent Price Performance

NASDAQ:CFLT opened at $30.10 on Thursday. The company has a market capitalization of $9.87 billion, a P/E ratio of -27.12 and a beta of 0.91. The business’s 50-day moving average is $29.73 and its 200 day moving average is $25.00. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million during 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%. On average, equities research analysts forecast that Confluent, Inc. will post -0.9 earnings per share 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.