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…

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.

→ China Has Stunning Lithium Chokehold On U.S. (From Investing Trends)

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.

Read More

Want to see what other hedge funds are holding CFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Confluent, Inc. (NASDAQ:CFLT - Get Rating).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to EMAIL.

Before you consider Confluent, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Confluent wasn't on the list.

While Confluent currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here