Confluent, Inc. (NASDAQ:CFLT) is Pathway Capital Management LP’s 7th Largest Position

Pathway Capital Management LP trimmed its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,292 shares of the company’s stock after selling 3,743 shares during the quarter. Confluent comprises about 1.2% of Pathway Capital Management LP’s investment portfolio, making the stock its 7th largest holding. Pathway Capital Management LP’s holdings in Confluent were worth $1,155,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Confluent by 32.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 91,062 shares of the company’s stock valued at $2,546,000 after buying an additional 22,449 shares during the last quarter. GenTrust LLC purchased a new stake in shares of Confluent during the fourth quarter valued at about $1,441,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Confluent during the fourth quarter valued at about $979,000. Impax Asset Management Group plc purchased a new stake in shares of Confluent during the fourth quarter valued at about $613,000. Finally, IFP Advisors Inc lifted its position in shares of Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock valued at $138,000 after buying an additional 1,613 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 12,460 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total value of $389,998.00. Following the transaction, the chief accounting officer now owns 183,886 shares in the company, valued at approximately $5,755,631.80. This trade represents a 6.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $31.21, for a total value of $1,988,982.09. Following the completion of the transaction, the insider now owns 678,016 shares in the company, valued at $21,160,879.36. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,429,865 shares of company stock worth $46,902,419. Corporate insiders own 13.82% of the company’s stock.

Confluent Price Performance

Confluent stock opened at $31.74 on Friday. The company’s fifty day moving average price is $29.96 and its 200 day moving average price is $26.32. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The stock has a market capitalization of $10.41 billion, a P/E ratio of -29.39 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

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

Analysts Set New Price Targets

CFLT has been the subject of several research analyst reports. UBS Group raised shares of Confluent from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $38.00 in a research report on Wednesday. Guggenheim increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Needham & Company LLC increased their price objective on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.15.

Confluent Company 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.