Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Champlain Investment Partners LLC

Champlain Investment Partners LLC lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 72.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,700,846 shares of the company’s stock after buying an additional 4,486,841 shares during the period. Confluent makes up about 1.3% of Champlain Investment Partners LLC’s holdings, making the stock its 25th biggest holding. Champlain Investment Partners LLC owned 3.26% of Confluent worth $218,083,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Confluent during the second quarter valued at about $193,403,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after purchasing an additional 2,587,169 shares during the period. 1832 Asset Management L.P. increased its position in Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after purchasing an additional 1,684,100 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Confluent by 60.0% in the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after buying an additional 1,316,804 shares during the period. Finally, Fiera Capital Corp acquired a new position in Confluent during the third quarter valued at approximately $21,127,000. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CFLT. Stifel Nicolaus cut their target price on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Mizuho raised their price objective on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their target price on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Citigroup upped their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.88.

Confluent Stock Performance

Confluent stock opened at $31.52 on Friday. 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, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a fifty day moving average price of $23.35 and a two-hundred day moving average price of $24.64.

Confluent (NASDAQ:CFLT) last posted 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 net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. On average, equities analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’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 $9,045,235.12. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,425,457 shares of company stock worth $93,622,927 over the last ninety days. Company insiders own 13.82% of the company’s stock.

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.