SWS Partners Acquires Shares of 39,355 Confluent, Inc. (NASDAQ:CFLT)

SWS Partners acquired a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,355 shares of the company’s stock, valued at approximately $802,000.

Several other large investors also recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in Confluent in the second quarter worth $193,403,000. 1832 Asset Management L.P. purchased a new stake in shares of Confluent in the 1st quarter worth about $181,075,000. Champlain Investment Partners LLC bought a new stake in shares of Confluent during the 1st quarter valued at about $144,563,000. Price T Rowe Associates Inc. MD increased its position in shares of Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after buying an additional 2,587,169 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Confluent by 60.0% in the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after buying an additional 1,316,804 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wolfe Research upgraded Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a report on Friday, August 9th. Guggenheim reaffirmed a “buy” rating and issued a $37.00 target price on shares of Confluent in a research report on Tuesday, June 25th. Baird R W upgraded shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Finally, Scotiabank dropped their price objective on shares of Confluent from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.97.

Confluent Stock Performance

CFLT stock traded up $0.36 during trading on Tuesday, reaching $22.72. The stock had a trading volume of 2,281,909 shares, compared to its average volume of 4,369,847. The stock’s 50 day moving average is $20.50 and its two-hundred day moving average is $25.26. The firm has a market cap of $7.22 billion, a PE ratio of -17.89 and a beta of 0.88. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $234.99 million during the quarter, compared to analysts’ expectations of $229.49 million. As a group, equities analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In related 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 value of $207,174.08. Following the completion of the sale, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $14,904,631.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,561,071.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Erica Schultz sold 9,556 shares of Confluent stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $207,174.08. Following the sale, the insider now directly owns 687,483 shares in the company, valued at $14,904,631.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock valued at $10,833,388 in the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Confluent 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.