Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Confluent, Inc. (NASDAQ:CFLT) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 548,354 shares of the company’s stock after purchasing an additional 9,424 shares during the quarter. Victory Capital Management Inc.’s holdings in Confluent were worth $16,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1832 Asset Management L.P. acquired a new position in Confluent during the first quarter worth about $181,075,000. Coatue Management LLC acquired a new position in shares of Confluent in the 4th quarter worth approximately $134,132,000. Champlain Investment Partners LLC bought a new stake in shares of Confluent in the 1st quarter worth approximately $144,563,000. Price T Rowe Associates Inc. MD lifted its stake in Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares during the last quarter. Finally, Norges Bank acquired a new stake in Confluent during the fourth quarter valued at approximately $37,046,000. Institutional investors own 78.09% of the company’s stock.

Confluent Trading Up 3.8 %

Shares of NASDAQ:CFLT opened at $20.12 on Friday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $6.49 billion, a PE ratio of -16.10 and a beta of 0.88. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $35.07. The firm has a fifty day moving average price of $22.33 and a 200 day moving average price of $27.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The company had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. Analysts expect that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, 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 completion of the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,045,235.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,045,235.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the sale, the director now owns 7,160 shares in the company, valued at approximately $143,271.60. The disclosure for this sale can be found here. Insiders have sold 533,433 shares of company stock worth $11,074,955 in the last quarter. 13.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on CFLT. Canaccord Genuity Group dropped their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Loop Capital reduced their target price on Confluent from $30.00 to $25.00 and set a “hold” rating for the company in a report on Friday, July 19th. Bank of America dropped their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Confluent in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.69.

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.