Trexquant Investment LP Has $18.24 Million Position in Confluent, Inc. (NASDAQ:CFLT)

Trexquant Investment LP raised its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 4,111.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 652,193 shares of the company’s stock after purchasing an additional 636,707 shares during the quarter. Trexquant Investment LP’s holdings in Confluent were worth $18,235,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CFLT. Cerity Partners LLC grew its holdings in shares of Confluent by 28.1% during the third quarter. Cerity Partners LLC now owns 35,129 shares of the company’s stock worth $716,000 after buying an additional 7,705 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after acquiring an additional 28,360 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Confluent by 52.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,907 shares of the company’s stock worth $874,000 after purchasing an additional 14,725 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the third quarter worth $68,000. Finally, Paloma Partners Management Co acquired a new position in Confluent during the third quarter worth $303,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Activity at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 2,178 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $68,781.24. Following the completion of the sale, the chief accounting officer now directly owns 177,415 shares in the company, valued at approximately $5,602,765.70. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,200,746 shares of company stock valued at $38,505,150. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CFLT shares. William Blair restated an “outperform” rating on shares of Confluent in a research note on Monday, March 17th. Loop Capital dropped their price target on shares of Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. Scotiabank lifted their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Mizuho raised their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average price target of $35.15.

Confluent Stock Up 0.5 %

Confluent stock opened at $23.56 on Wednesday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of -21.81 and a beta of 0.90. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The business’s 50-day moving average price is $29.21 and its 200 day moving average price is $27.31. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Confluent 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.