Fulcrum Asset Management LLP Reduces Position in Confluent, Inc. $CFLT

Fulcrum Asset Management LLP trimmed its stake in Confluent, Inc. (NASDAQ:CFLT) by 85.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,919 shares of the company’s stock after selling 77,975 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Confluent were worth $256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Confluent during the third quarter valued at $1,236,000. CANADA LIFE ASSURANCE Co raised its stake in Confluent by 30.4% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 280,550 shares of the company’s stock valued at $5,641,000 after purchasing an additional 65,460 shares during the last quarter. Dark Forest Capital Management LP raised its stake in Confluent by 15.4% in the 3rd quarter. Dark Forest Capital Management LP now owns 108,866 shares of the company’s stock valued at $2,156,000 after purchasing an additional 14,502 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Confluent in the 3rd quarter valued at about $15,779,000. Finally, Sherbrooke Park Advisers LLC lifted its holdings in Confluent by 20.7% in the 3rd quarter. Sherbrooke Park Advisers LLC now owns 20,343 shares of the company’s stock valued at $403,000 after purchasing an additional 3,486 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Edward Jay Kreps sold 270,207 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $30.70, for a total value of $8,295,354.90. Following the transaction, the chief executive officer owned 301,660 shares in the company, valued at approximately $9,260,962. This trade represents a 47.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $30.59, for a total transaction of $764,750.00. Following the transaction, the director directly owned 155,512 shares in the company, valued at approximately $4,757,112.08. This trade represents a 13.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 534,745 shares of company stock worth $16,388,405. 13.82% of the stock is owned by insiders.

Confluent Trading Up 1.0%

Shares of CFLT opened at $30.99 on Wednesday. Confluent, Inc. has a twelve month low of $15.64 and a twelve month high of $31.00. The firm has a market capitalization of $11.08 billion, a P/E ratio of -36.03 and a beta of 0.95. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.94. The stock’s fifty day simple moving average is $30.59 and its 200 day simple moving average is $26.10.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Citigroup upped their price objective on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, December 9th. Piper Sandler lowered shares of Confluent from an “overweight” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Monday, December 8th. Raymond James Financial cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Finally, Sanford C. Bernstein downgraded Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 price target for the company. in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Confluent has a consensus rating of “Hold” and a consensus price target of $28.71.

About Confluent

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.