Dynamic Technology Lab Private Ltd grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,129 shares of the company’s stock after purchasing an additional 359 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Confluent were worth $448,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Confluent during the third quarter worth about $375,000. Daiwa Securities Group Inc. bought a new position in Confluent during the third quarter valued at $314,000. California Public Employees Retirement System purchased a new stake in Confluent in the third quarter worth $8,757,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Confluent during the 3rd quarter valued at $1,155,000. Finally, Versor Investments LP bought a new stake in Confluent in the 3rd quarter valued at about $438,000. 78.09% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
CFLT has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and issued a $36.00 price objective (up from $33.00) on shares of Confluent in a research note on Wednesday, May 8th. Canaccord Genuity Group raised shares of Confluent from a “hold” rating to a “buy” rating and upped their target price for the stock from $28.00 to $35.00 in a report on Wednesday, May 8th. DA Davidson reiterated a “buy” rating and issued a $37.00 price objective on shares of Confluent in a research report on Monday, April 1st. Loop Capital initiated coverage on Confluent in a research report on Tuesday, January 30th. They set a “hold” rating and a $23.00 target price for the company. Finally, JMP Securities lifted their price target on Confluent from $38.00 to $40.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus price target of $33.04.
Check Out Our Latest Analysis on Confluent
Insider Transactions at Confluent
In related news, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $31.00, for a total transaction of $290,625.00. Following the completion of the sale, the director now directly owns 5,399 shares in the company, valued at approximately $167,369. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $31.00, for a total value of $290,625.00. Following the sale, the director now directly owns 5,399 shares of the company’s stock, valued at $167,369. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the transaction, the chief technology officer now owns 532,072 shares in the company, valued at approximately $16,600,646.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 737,841 shares of company stock worth $24,089,786. Insiders own 13.82% of the company’s stock.
Confluent Price Performance
Shares of Confluent stock opened at $30.15 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 5.07 and a quick ratio of 5.07. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The business’s 50 day simple moving average is $29.83 and its two-hundred day simple moving average is $26.85. The stock has a market capitalization of $9.58 billion, a P/E ratio of -24.12 and a beta of 0.93.
About Confluent
(Free Report)
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.
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