Lisanti Capital Growth LLC Purchases Shares of 156,690 Confluent, Inc. (NASDAQ:CFLT)

Lisanti Capital Growth LLC purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 156,690 shares of the company’s stock, valued at approximately $4,381,000.

Other large investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares in the last quarter. Fiera Capital Corp purchased a new position in shares of Confluent in the third quarter worth $21,127,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Confluent by 46.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after buying an additional 802,353 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Confluent in the fourth quarter worth $10,607,000. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of Confluent in the third quarter worth $7,646,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In related news, Director Matthew Craig Miller sold 347,646 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.69, for a total value of $11,364,547.74. Following the completion of the transaction, the director now directly owns 22,688 shares of the company’s stock, valued at $741,670.72. This trade represents a 93.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,427,353 shares of company stock valued at $46,561,127. 13.82% of the stock is currently owned by insiders.

Confluent Stock Performance

CFLT stock opened at $28.65 on Friday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of -26.53 and a beta of 0.92. The firm has a 50-day simple moving average of $29.97 and a two-hundred day simple moving average of $26.56. 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 quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate 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 analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on CFLT shares. Stifel Nicolaus boosted their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial upped their price target on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group upped their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $35.15.

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.