Charles Schwab Investment Management Inc. Buys 64,926 Shares of Confluent, Inc. (NASDAQ:CFLT)

Charles Schwab Investment Management Inc. boosted its stake in Confluent, Inc. (NASDAQ:CFLT) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,284,037 shares of the company’s stock after buying an additional 64,926 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Confluent were worth $46,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Confluent in the second quarter worth about $68,000. Acadian Asset Management LLC purchased a new stake in shares of Confluent during the 2nd quarter worth approximately $175,000. Plato Investment Management Ltd boosted its position in shares of Confluent by 2,184.1% during the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after acquiring an additional 6,312 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Confluent by 109.2% in the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares in the last quarter. Finally, NINE MASTS CAPITAL Ltd bought a new stake in Confluent in the second quarter worth $238,000. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CFLT. DA Davidson reiterated a “buy” rating and set a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Baird R W upgraded Confluent to a “hold” rating in a research report on Wednesday, September 4th. Barclays raised their price objective on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their target price on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Confluent has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Insider Buying and Selling at Confluent

In related news, Director Matthew Craig Miller sold 157,890 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.88, for a total transaction of $5,191,423.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Stephanie Buscemi sold 26,047 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $32.89, for a total value of $856,685.83. Following the sale, the chief marketing officer now directly owns 144,373 shares in the company, valued at approximately $4,748,427.97. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,237,879 shares of company stock valued at $118,823,850. Company insiders own 13.82% of the company’s stock.

Confluent Trading Up 0.9 %

Shares of NASDAQ CFLT opened at $30.84 on Monday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07. The firm has a market cap of $10.12 billion, a PE ratio of -27.78 and a beta of 0.82. The business has a fifty day simple moving average of $24.40 and a two-hundred day simple moving average of $24.64. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

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

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.