Moloney Securities Asset Management LLC Takes $1.51 Million Position in Confluent, Inc. $CFLT

Moloney Securities Asset Management LLC acquired a new position in Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,250 shares of the company’s stock, valued at approximately $1,510,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Savant Capital LLC lifted its stake in Confluent by 10.5% in the third quarter. Savant Capital LLC now owns 416,137 shares of the company’s stock valued at $8,240,000 after acquiring an additional 39,576 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Confluent by 49.5% in the 3rd quarter. Penserra Capital Management LLC now owns 201,364 shares of the company’s stock valued at $3,986,000 after purchasing an additional 66,676 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Confluent by 250.6% in the third quarter. Jones Financial Companies Lllp now owns 3,471 shares of the company’s stock worth $69,000 after purchasing an additional 2,481 shares in the last quarter. Prostatis Group LLC increased its position in Confluent by 20.2% during the third quarter. Prostatis Group LLC now owns 12,138 shares of the company’s stock worth $240,000 after buying an additional 2,044 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in Confluent by 215.9% during the third quarter. AlphaQuest LLC now owns 14,647 shares of the company’s stock valued at $290,000 after buying an additional 10,011 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Evercore set a $31.00 price target on Confluent in a research note on Monday, December 8th. FBN Securities reaffirmed an “outperform” rating and set a $28.00 target price on shares of Confluent in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft set a $31.00 price target on shares of Confluent and gave the company a “hold” rating in a research report on Monday, December 8th. UBS Group downgraded shares of Confluent from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $29.00 to $31.00 in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada downgraded shares of Confluent from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $30.00 to $31.00 in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twenty-eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Confluent currently has an average rating of “Hold” and an average target price of $28.78.

Confluent Stock Performance

NASDAQ CFLT opened at $30.57 on Friday. The company’s fifty day moving average is $29.55 and its two-hundred day moving average is $23.95. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $37.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.01 and a quick ratio of 4.01. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of -33.97 and a beta of 0.95.

Insider Transactions at Confluent

In related news, Director Alyssa Henry sold 62,500 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $30.00, for a total value of $1,875,000.00. Following the completion of the transaction, the director directly owned 28,549 shares of the company’s stock, valued at $856,470. This trade represents a 68.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Ban Ryan Norris Mac sold 44,114 shares of Confluent stock in a transaction on Monday, December 8th. The stock was sold at an average price of $29.77, for a total transaction of $1,313,273.78. Following the sale, the executive owned 336,950 shares in the company, valued at $10,031,001.50. This represents a 11.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,357,664 shares of company stock worth $38,315,446. 9.20% of the stock is currently owned by company insiders.

Confluent Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.