Y Intercept Hong Kong Ltd purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,448 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CFLT. Credit Suisse AG increased its position in Confluent by 1.7% during the second quarter. Credit Suisse AG now owns 21,325 shares of the company’s stock worth $495,000 after buying an additional 362 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Confluent by 4.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,205 shares of the company’s stock valued at $249,000 after acquiring an additional 450 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Confluent by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 62,332 shares of the company’s stock worth $1,482,000 after purchasing an additional 491 shares during the last quarter. Amalgamated Bank boosted its position in Confluent by 1.9% during the fourth quarter. Amalgamated Bank now owns 28,726 shares of the company’s stock worth $639,000 after purchasing an additional 541 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in Confluent by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,926 shares of the company’s stock valued at $78,000 after purchasing an additional 642 shares during the last quarter. Institutional investors own 49.64% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on CFLT shares. Morgan Stanley upped their price objective on shares of Confluent from $30.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, August 3rd. VNET Group reaffirmed a “maintains” rating on shares of Confluent in a research report on Thursday, May 4th. Guggenheim cut Confluent from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of Confluent in a report on Thursday, August 3rd. Finally, Piper Sandler upped their price target on Confluent from $30.00 to $40.00 in a report on Friday, June 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.58.

Get Our Latest Research Report on Confluent

Insider Transactions at Confluent

In related news, CAO Ying Christina Liu sold 3,496 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $28.82, for a total value of $100,754.72. Following the sale, the chief accounting officer now owns 135,924 shares of the company’s stock, valued at approximately $3,917,329.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Confluent news, CMO Stephanie Buscemi sold 3,248 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.82, for a total transaction of $93,607.36. Following the sale, the chief marketing officer now directly owns 117,519 shares of the company’s stock, valued at $3,386,897.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Ying Christina Liu sold 3,496 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $28.82, for a total transaction of $100,754.72. Following the sale, the chief accounting officer now directly owns 135,924 shares of the company’s stock, valued at approximately $3,917,329.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,237,818 shares of company stock valued at $41,077,106. Corporate insiders own 22.08% of the company’s stock.

Confluent Stock Up 0.6 %

Shares of CFLT opened at $32.15 on Friday. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average price of $34.79 and a two-hundred day moving average price of $28.52. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of -19.48 and a beta of 0.98. Confluent, Inc. has a 12 month low of $16.60 and a 12 month high of $41.22.

Confluent Company Profile

(Free Report)

Confluent, Inc operates a data streaming platform in the United States and internationally. The company offers Confluent Cloud, a managed cloud-native service for connecting and processing real-time data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data.

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