AlpInvest Partners B.V. Sells 115,533 Shares of Confluent, Inc. (NASDAQ:CFLT)

AlpInvest Partners B.V. reduced its holdings in Confluent, Inc. (NASDAQ:CFLT) by 37.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,110 shares of the company’s stock after selling 115,533 shares during the quarter. Confluent accounts for about 2.0% of AlpInvest Partners B.V.’s investment portfolio, making the stock its 12th largest holding. AlpInvest Partners B.V.’s holdings in Confluent were worth $5,643,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after acquiring an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after buying an additional 2,587,169 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Confluent in the 2nd quarter valued at approximately $193,403,000. 1832 Asset Management L.P. acquired a new position in Confluent during the 1st quarter worth approximately $181,075,000. Finally, Coatue Management LLC acquired a new position in Confluent during the 4th quarter worth approximately $134,132,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of a number of research reports. Piper Sandler cut their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus cut their price target on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird assumed coverage on Confluent in a research report on Wednesday, September 4th. They issued a “neutral” rating and a $23.00 target price on the stock. JPMorgan Chase & Co. upgraded Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a report on Friday, August 9th. Finally, Scotiabank lowered their price target on Confluent from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $30.69.

Confluent Price Performance

NASDAQ:CFLT opened at $20.12 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of -16.10 and a beta of 0.88. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.07. The firm’s 50-day simple moving average is $22.33 and its 200 day simple moving average is $26.98.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. As a group, sell-side analysts predict that Confluent, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,561,071.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,561,071.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 22,926 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $497,035.68. Following the transaction, the chief financial officer now owns 555,337 shares of the company’s stock, valued at $12,039,706.16. The disclosure for this sale can be found here. Insiders sold 533,433 shares of company stock valued at $11,074,955 in the last three months. Corporate insiders own 13.82% of the company’s stock.

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.