Great West Life Assurance Co. Can Invests $4.08 Million in Confluent, Inc. (NASDAQ:CFLT)

Great West Life Assurance Co. Can acquired a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 171,735 shares of the company's stock, valued at approximately $4,082,000. Great West Life Assurance Co. Can owned about 0.06% of Confluent at the end of the most recent reporting period.

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Several other large investors also recently added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in Confluent by 1.7% during the second quarter. Credit Suisse AG now owns 21,325 shares of the company's stock worth $495,000 after acquiring an additional 362 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Confluent by 37.7% during the second quarter. Geneos Wealth Management Inc. now owns 1,473 shares of the company's stock valued at $36,000 after buying an additional 403 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Confluent by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,926 shares of the company's stock valued at $78,000 after buying an additional 642 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Confluent during the first quarter valued at approximately $30,000. Finally, Focused Wealth Management Inc grew its stake in shares of Confluent by 101.8% during the second quarter. Focused Wealth Management Inc now owns 1,725 shares of the company's stock valued at $40,000 after buying an additional 870 shares during the last quarter. 40.66% of the stock is owned by institutional investors.

Confluent Stock Performance

Shares of CFLT stock opened at $21.45 on Monday. The business's fifty day simple moving average is $21.66 and its 200-day simple moving average is $24.52. The company has a market cap of $6.14 billion, a PE ratio of -12.84 and a beta of 1.02. The company has a current ratio of 5.74, a quick ratio of 5.74 and a debt-to-equity ratio of 1.38. Confluent, Inc. has a 12-month low of $16.48 and a 12-month high of $81.11.

Confluent (NASDAQ:CFLT - Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.40). The business had revenue of $151.73 million for the quarter, compared to the consensus estimate of $144.39 million. Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. Analysts expect that Confluent, Inc. will post -1.62 earnings per share for the current fiscal year.

Insider Transactions at Confluent

In related news, Director Michelangelo Volpi sold 164,651 shares of the company's stock in a transaction on Friday, November 11th. The stock was sold at an average price of $23.01, for a total value of $3,788,619.51. Following the transaction, the director now directly owns 59,059 shares of the company's stock, valued at approximately $1,358,947.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Michelangelo Volpi sold 164,651 shares of the company's stock in a transaction on Friday, November 11th. The stock was sold at an average price of $23.01, for a total value of $3,788,619.51. Following the transaction, the director now directly owns 59,059 shares of the company's stock, valued at approximately $1,358,947.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Vii (Jersey) L. Index sold 140,511 shares of the company's stock in a transaction on Friday, November 11th. The shares were sold at an average price of $23.01, for a total value of $3,233,158.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 829,987 shares of company stock valued at $18,552,363. Corporate insiders own 27.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CFLT. Piper Sandler cut their target price on Confluent from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, January 5th. DA Davidson lowered their price target on Confluent from $44.00 to $33.00 in a report on Thursday, November 3rd. Scotiabank lowered Confluent from a "sector outperform" rating to a "sector perform" rating and set a $21.00 price target for the company. in a report on Friday, January 6th. Wells Fargo & Company lowered their price target on Confluent from $40.00 to $36.00 and set an "overweight" rating for the company in a report on Friday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on Confluent from $30.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, November 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Confluent has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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