Baillie Gifford & Co. Has $9.20 Million Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Baillie Gifford & Co. raised its position in Confluent, Inc. (NASDAQ:CFLT) by 0.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 451,566 shares of the company’s stock after purchasing an additional 3,608 shares during the quarter. Baillie Gifford & Co.’s holdings in Confluent were worth $9,203,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after acquiring an additional 857 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Resolute Advisors LLC grew its holdings in shares of Confluent by 11.1% during the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock worth $265,000 after purchasing an additional 869 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of Confluent by 15.0% in the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after buying an additional 1,064 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Confluent by 9.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after buying an additional 1,113 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Stock Performance

Shares of CFLT opened at $27.70 on Wednesday. The firm has a market cap of $9.09 billion, a P/E ratio of -24.95 and a beta of 0.82. Confluent, Inc. has a twelve month low of $17.26 and a twelve month 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. The firm’s 50 day moving average price is $21.74 and its two-hundred day moving average price is $24.58.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at Confluent

In other news, insider Erica Schultz sold 9,556 shares of the firm’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 $207,174.08. Following the completion of the transaction, the insider now directly owns 687,483 shares of the company’s stock, valued at $14,904,631.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Erica Schultz sold 9,556 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $207,174.08. Following the completion of the transaction, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $14,904,631.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the transaction, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,041,895 shares of company stock valued at $53,318,197 over the last three months. Company insiders own 13.82% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CFLT. Robert W. Baird raised their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. Stifel Nicolaus reduced their price objective on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. UBS Group lifted their target price on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Wolfe Research upgraded Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.88.

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.