Oddo BHF Asset Management Sas Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Oddo BHF Asset Management Sas purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 375,189 shares of the company’s stock, valued at approximately $7,646,000.

Several other institutional investors and hedge funds have also modified their holdings of CFLT. CWM LLC lifted its holdings in shares of Confluent by 17.6% in the 2nd quarter. CWM LLC now owns 10,099 shares of the company’s stock valued at $298,000 after buying an additional 1,515 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Confluent by 785.3% in the 2nd quarter. SG Americas Securities LLC now owns 46,372 shares of the company’s stock valued at $1,369,000 after buying an additional 41,134 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Confluent in the 2nd quarter valued at about $68,000. Assenagon Asset Management S.A. lifted its holdings in shares of Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after buying an additional 1,113 shares during the period. Finally, Intellectus Partners LLC lifted its holdings in shares of Confluent by 26.1% in the 2nd quarter. Intellectus Partners LLC now owns 29,000 shares of the company’s stock valued at $856,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insiders Place Their Bets

In other Confluent news, Director Michelangelo Volpi sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $25.92, for a total value of $1,296,000.00. Following the sale, the director now owns 280,200 shares in the company, valued at approximately $7,262,784. This trade represents a 15.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $31.68, for a total transaction of $2,018,934.72. Following the transaction, the insider now owns 678,016 shares in the company, valued at $21,479,546.88. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,533,995 shares of company stock valued at $131,348,784 over the last quarter. Insiders own 13.82% of the company’s stock.

Confluent Stock Performance

NASDAQ:CFLT opened at $31.32 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a 50-day moving average of $26.66 and a two-hundred day moving average of $24.72. The stock has a market cap of $10.27 billion, a P/E ratio of -28.22 and a beta of 0.88. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. On average, research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the subject of several analyst reports. UBS Group boosted their price objective on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price target on shares of Confluent in a report on Wednesday, September 18th. Mizuho upped their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday. Sanford C. Bernstein reduced their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. upped their price target on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.04.

Confluent Company Profile

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.