Syquant Capital Sas Makes New $6.19 Million Investment in Confluent, Inc. $CFLT

Syquant Capital Sas bought a new position in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 204,756 shares of the company’s stock, valued at approximately $6,192,000. Confluent comprises 0.8% of Syquant Capital Sas’ portfolio, making the stock its 15th biggest position. Syquant Capital Sas owned 0.06% of Confluent at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of Confluent by 655.7% in the second quarter. Hsbc Holdings PLC now owns 243,596 shares of the company’s stock worth $6,013,000 after acquiring an additional 211,360 shares during the period. Maxi Investments CY Ltd lifted its position in Confluent by 81.7% during the third quarter. Maxi Investments CY Ltd now owns 140,366 shares of the company’s stock valued at $2,779,000 after purchasing an additional 63,100 shares during the period. Light Street Capital Management LLC purchased a new stake in Confluent in the third quarter valued at $25,119,000. Neuberger Berman Group LLC purchased a new stake in Confluent in the second quarter valued at $305,000. Finally, First Trust Advisors LP grew its position in Confluent by 15.7% during the 2nd quarter. First Trust Advisors LP now owns 4,555,913 shares of the company’s stock worth $113,579,000 after purchasing an additional 616,822 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Confluent

In related news, CFO Rohan Sivaram sold 29,996 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $30.67, for a total transaction of $919,977.32. Following the completion of the transaction, the chief financial officer directly owned 531,971 shares in the company, valued at $16,315,550.57. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Neha Narkhede sold 80,000 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 $2,447,200.00. Following the completion of the transaction, the director owned 28,549 shares of the company’s stock, valued at $873,313.91. This trade represents a 73.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 525,929 shares of company stock valued at $16,124,278 over the last quarter. 9.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial set a $31.00 price target on Confluent in a research report on Monday, December 8th. Mizuho lowered shares of Confluent from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. UBS Group downgraded shares of Confluent from a “buy” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $31.00 in a report on Tuesday, December 9th. Needham & Company LLC lowered shares of Confluent from a “buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft set a $31.00 price objective on shares of Confluent and gave the company a “hold” rating in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Confluent has a consensus rating of “Hold” and a consensus price target of $28.71.

Confluent Price Performance

CFLT stock opened at $30.99 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83. The business has a 50 day simple moving average of $30.67 and a 200-day simple moving average of $26.57. The firm has a market capitalization of $11.08 billion, a PE ratio of -36.03 and a beta of 0.95. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $31.00.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $308.03 million. During the same quarter in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal 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.