Landscape Capital Management L.L.C. Acquires New Holdings in Confluent, Inc. (NASDAQ:CFLT)

Landscape Capital Management L.L.C. bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,378 shares of the company’s stock, valued at approximately $1,409,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Resolute Advisors LLC bought a new position in shares of Confluent in the 4th quarter worth $273,000. ExodusPoint Capital Management LP bought a new position in Confluent in the fourth quarter worth about $6,892,000. Trexquant Investment LP lifted its position in shares of Confluent by 4,111.5% during the fourth quarter. Trexquant Investment LP now owns 652,193 shares of the company’s stock valued at $18,235,000 after buying an additional 636,707 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Confluent by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock valued at $123,339,000 after buying an additional 84,163 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Confluent by 676.7% in the 4th quarter. Alliancebernstein L.P. now owns 638,189 shares of the company’s stock worth $17,844,000 after buying an additional 556,025 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In other Confluent news, CAO Kong Phan sold 3,175 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now directly owns 246,516 shares of the company’s stock, valued at $6,621,419.76. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the transaction, the chief executive officer now owns 452,488 shares in the company, valued at approximately $14,628,937.04. This represents a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,200,746 shares of company stock worth $38,505,150. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several recent analyst reports. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $38.00 in a research note on Wednesday, February 26th. Truist Financial dropped their target price on Confluent from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Bank of America increased their price target on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Evercore ISI increased their price objective on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.15.

Confluent Stock Down 4.9 %

Confluent stock opened at $20.17 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market capitalization of $6.74 billion, a PE ratio of -18.68 and a beta of 0.90. The business has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $27.24. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

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.