Delta Global Management LP Acquires Shares of 303,441 Confluent, Inc. $CFLT

Delta Global Management LP bought 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 & Exchange Commission. The institutional investor bought 303,441 shares of the company’s stock, valued at approximately $6,008,000. Delta Global Management LP owned about 0.09% of Confluent as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFLT. Vanguard Group Inc. boosted its position in Confluent by 10.5% in the 3rd quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock worth $620,675,000 after purchasing an additional 2,970,708 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Confluent by 6.7% during the second quarter. Champlain Investment Partners LLC now owns 11,590,026 shares of the company’s stock worth $288,939,000 after buying an additional 727,943 shares in the last quarter. Franklin Resources Inc. grew its position in Confluent by 1.7% during the second quarter. Franklin Resources Inc. now owns 8,592,443 shares of the company’s stock valued at $214,210,000 after buying an additional 143,232 shares during the period. Optimus Prime Fund Management Co. Ltd. grew its position in Confluent by 16.8% during the third quarter. Optimus Prime Fund Management Co. Ltd. now owns 5,920,000 shares of the company’s stock valued at $117,216,000 after buying an additional 850,000 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Confluent by 12.5% in the second quarter. Geode Capital Management LLC now owns 5,235,819 shares of the company’s stock valued at $130,551,000 after buying an additional 583,219 shares in the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Confluent news, CFO Rohan Sivaram sold 29,996 shares of Confluent stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $30.67, for a total transaction of $919,977.32. Following the transaction, the chief financial officer directly owned 531,971 shares of the company’s stock, valued at $16,315,550.57. The trade was a 5.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Kong Phan sold 2,277 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $69,903.90. Following the completion of the transaction, the chief accounting officer owned 218,228 shares in the company, valued at $6,699,599.60. The trade was a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 534,745 shares of company stock valued at $16,388,405 in the last quarter. Insiders own 13.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Evercore set a $31.00 target price on Confluent in a research report on Monday, December 8th. Mizuho downgraded Confluent from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Guggenheim cut Confluent from a “buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Oppenheimer downgraded Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 price target on shares of Confluent and gave the company a “hold” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.71.

Confluent Stock Performance

NASDAQ CFLT opened at $30.67 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The stock’s fifty day moving average is $30.56 and its two-hundred day moving average is $25.94. The firm has a market capitalization of $10.97 billion, a P/E ratio of -35.66 and a beta of 0.95. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $30.81.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The business had revenue of $314.82 million during the quarter, compared to the consensus estimate of $308.03 million. During the same period last year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

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.