Qsemble Capital Management LP Acquires 78,746 Shares of Confluent, Inc. (NASDAQ:CFLT)

Qsemble Capital Management LP increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 195.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 118,994 shares of the company’s stock after purchasing an additional 78,746 shares during the period. Qsemble Capital Management LP’s holdings in Confluent were worth $2,425,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in Confluent in the second quarter valued at approximately $68,000. UniSuper Management Pty Ltd raised its holdings in shares of Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. Lazard Asset Management LLC lifted its position in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Confluent during the 2nd quarter valued at about $175,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Confluent news, Director Matthew Craig Miller sold 157,890 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.88, for a total value of $5,191,423.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. This trade represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,125,197 shares of company stock worth $115,243,242 in the last ninety days. 13.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group dropped their target price on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Evercore ISI dropped their target price on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Sanford C. Bernstein reduced their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Confluent Trading Up 2.3 %

CFLT stock opened at $32.23 on Tuesday. The company has a market capitalization of $10.57 billion, a PE ratio of -29.04 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company’s 50 day moving average price is $23.58 and its two-hundred day moving average price is $24.58.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. As a group, analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

About Confluent

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.