Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. raised its position in Confluent, Inc. (NASDAQ:CFLT) by 19.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 71,717 shares of the company’s stock after acquiring an additional 11,870 shares during the quarter. Confluent makes up approximately 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 17th biggest position. Fox Run Management L.L.C.’s holdings in Confluent were worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after buying an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent during the fourth quarter worth $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent during the third quarter worth $68,000. GAMMA Investing LLC lifted its stake in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after buying an additional 3,538 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CFLT has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Loop Capital lowered their price objective on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Monday, March 10th. Stifel Nicolaus raised their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Bank of America raised their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Finally, William Blair reissued an “outperform” rating on shares of Confluent in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Trading Down 0.5 %

Shares of Confluent stock opened at $26.50 on Friday. The company has a market cap of $8.85 billion, a price-to-earnings ratio of -24.54 and a beta of 0.90. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company’s fifty day simple moving average is $29.46 and its 200-day simple moving average is $26.94. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, sell-side analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Confluent

In other news, CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the completion of the transaction, the chief accounting officer now owns 179,593 shares of the company’s stock, valued at approximately $6,504,858.46. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,197,571 shares of company stock valued at $38,419,870 in the last ninety days. 13.82% of the stock is currently owned by corporate 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.