Qsemble Capital Management LP Raises Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Qsemble Capital Management LP raised its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 195.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 118,994 shares of the company’s stock after purchasing an additional 78,746 shares during the period. Qsemble Capital Management LP’s holdings in Confluent were worth $2,425,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in Confluent during the second quarter worth about $68,000. UniSuper Management Pty Ltd lifted its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Confluent during the 2nd quarter valued at approximately $175,000. Institutional investors own 78.09% of the company’s stock.

Confluent Stock Up 2.3 %

Shares of NASDAQ CFLT opened at $32.23 on Tuesday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm has a 50-day simple moving average of $23.58 and a two-hundred day simple moving average of $24.58. The company has a market cap of $10.57 billion, a P/E ratio of -29.04 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CFLT shares. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Confluent in a research note on Wednesday, September 18th. TD Cowen boosted their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price target on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Mizuho upped their price objective on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.88.

Insider Transactions at Confluent

In other news, Director Matthew Craig Miller sold 157,890 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.88, for a total value of $5,191,423.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The trade was a 33.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,125,197 shares of company stock valued at $115,243,242. 13.82% of the stock is currently owned by company insiders.

About Confluent

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.