DMC Group LLC Invests $201,000 in Confluent, Inc. (NASDAQ:CFLT)

DMC Group LLC purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, Holdings Channel reports. The firm purchased 7,200 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares during the period. Geode Capital Management LLC raised its holdings in shares of Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares in the last quarter. Atreides Management LP lifted its stake in Confluent by 7.3% in the third quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after acquiring an additional 184,865 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after acquiring an additional 802,353 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after purchasing an additional 64,926 shares during the period. Institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Matthew Craig Miller sold 1,084,259 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10. Following the sale, the director now directly owns 12,559 shares of the company’s stock, valued at $362,955.10. This represents a 98.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michelangelo Volpi sold 50,000 shares of Confluent stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $25.92, for a total value of $1,296,000.00. Following the completion of the transaction, the director now owns 280,200 shares of the company’s stock, valued at approximately $7,262,784. This represents a 15.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,584,712 shares of company stock worth $132,928,936. Corporate insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CFLT shares. Barclays increased their price objective on shares of Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Citigroup increased their target price on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, 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 report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.37.

Confluent Price Performance

Shares of CFLT opened at $30.10 on Thursday. The business’s 50-day moving average is $29.73 and its two-hundred day moving average is $25.00. The company has a market capitalization of $9.87 billion, a P/E ratio of -27.12 and a beta of 0.91. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its earnings results 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 return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current 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.