Plato Investment Management Ltd buys 6,312 shares of Confluent, Inc. (NASDAQ:CFLT)

Plato Investment Management Ltd lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) by 2,184.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,601 shares of the company’s stock after buying an additional 6,312 shares during the period. Plato Investment Management Ltd’s holdings in Confluent were worth $195,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Confluent by 3.5% in the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after purchasing an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD grew its position in Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after acquiring an additional 2,587,169 shares during the period. William Blair Investment Management LLC acquired a new stake in Confluent in the second quarter valued at approximately $193,403,000. 1832 Asset Management LP bought a new stake in Confluent in the first quarter valued at approximately $181,075,000. Finally, Coatue Management LLC purchased a new position in shares of Confluent during the 4th quarter worth approximately $134,132,000. 78.09% of shares are held by institutional investors and hedge funds.

Analysts set new price targets

Several equities research analysts have recently issued reports on the company. Bank of America cut their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Mizuho cut their price target on Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Confluent in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Stifel Nicolaus cut their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.69, according to MarketBeat.com.

Check out the latest stock analysis on CFLT

Confluent pricing performance

Shares of NASDAQ:CFLT opened at $20.75 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44, and a current ratio of 4.44. Confluent, Inc. it has a 52-week low of $14.69 and a 52-week high of $35.07. The firm has a market cap of $6.60 billion, a PE ratio of -16.60 and a beta of 0.88. The company’s fifty day moving average is $22.16 and its 200 day moving average is $26.89.

Confluent (NASDAQ:CFLT – Get Your Free Report ) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The company had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. Sell-side analysts predict that Confluent, Inc. will post -0.95 earnings per share for the current year.

Insider buying and selling

In other Confluent news, insider Erica Schultz sold 9,556 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the completion of the sale, the insider now owns 687,483 shares of the company’s stock, valued at approximately $14,904,631.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In related news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the transaction, the chief executive officer now owns 452,488 shares in the company, valued at $9,045,235.12. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, insider Erica Schultz sold 9,556 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $207,174.08. Following the sale, the insider now directly owns 687,483 shares in the company, valued at approximately $14,904,631.44. The disclosure for this sale can be found here. Insiders have sold a total of 533,433 shares of company stock worth $11,074,955 in the last ninety days. 13.82% of the shares are owned by company insiders.

About Confluent

(Free report)

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that enable customers to connect their applications, systems and data layers, such as Confluent Cloud, a cloud-native managed software-as-a-service; and Confluent Platform, self-managed enterprise software.

Read more

Want to see what other hedge funds own CFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Confluent, Inc. (NASDAQ:CFLT – Free Report).

Get news and reviews for Confluent Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Confluent and related companies with MarketBeat.com’s FREE daily email newsletter.