Bridgewater Associates LP Has $5.73 Million Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Bridgewater Associates LP boosted its stake in Confluent, Inc. (NASDAQ:CFLT) by 1,325.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,093 shares of the company’s stock after purchasing an additional 261,370 shares during the quarter. Bridgewater Associates LP owned about 0.09% of Confluent worth $5,729,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the last quarter. Cetera Advisors LLC lifted its stake in Confluent by 209.6% during the first quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock worth $976,000 after purchasing an additional 21,646 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after purchasing an additional 857 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in shares of Confluent by 15.0% during the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock worth $241,000 after buying an additional 1,064 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Trading Up 0.9 %

NASDAQ CFLT opened at $30.84 on Friday. The stock has a market capitalization of $10.12 billion, a P/E ratio of -27.78 and a beta of 0.82. The business has a 50 day simple moving average of $24.40 and a 200 day simple moving average of $24.68. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping 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 company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling at Confluent

In other news, CAO Kong Phan sold 2,096 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $59,170.08. Following the completion of the sale, the chief accounting officer now owns 190,680 shares in the company, valued at $5,382,896.40. The trade was a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Stephanie Buscemi sold 164,123 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the transaction, the chief marketing officer now owns 149,644 shares in the company, valued at approximately $3,926,658.56. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,237,879 shares of company stock valued at $118,823,850. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CFLT. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research note on Friday, November 15th. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. TD Cowen boosted their target price on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Confluent Profile

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.