Madison Investment Advisors LLC Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Madison Investment Advisors LLC bought a new position in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 182,987 shares of the company’s stock, valued at approximately $5,116,000. Madison Investment Advisors LLC owned approximately 0.06% of Confluent as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Confluent during the fourth quarter valued at approximately $59,000. GAMMA Investing LLC increased its holdings in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the third quarter valued at approximately $68,000. Finally, AlphaQuest LLC increased its holdings in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after acquiring an additional 3,538 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Confluent Stock Down 0.5 %

Shares of NASDAQ CFLT opened at $26.50 on Friday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The business’s fifty day moving average price is $29.46 and its 200-day moving average price is $26.94. The stock has a market capitalization of $8.85 billion, a PE ratio of -24.54 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, equities research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Activity

In other news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $29.36, for a total value of $6,826,200.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $13,285,047.68. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,197,571 shares of company stock valued at $38,419,870 in the last 90 days. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Barclays boosted their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of Confluent in a report on Friday, March 7th. Guggenheim boosted their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, William Blair reiterated an “outperform” rating on shares of Confluent in a report on Monday, March 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

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.