Dynamic Technology Lab Private Ltd Takes Position in Confluent, Inc. (NASDAQ:CFLT)

Dynamic Technology Lab Private Ltd acquired a new position in Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 124,401 shares of the company’s stock, valued at approximately $2,535,000.

Several other large investors also recently added to or reduced their stakes in CFLT. DekaBank Deutsche Girozentrale raised its position in Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after acquiring an additional 857 shares during the period. Advisors Asset Management Inc. increased its position 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 buying an additional 859 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Confluent by 15.0% during the 2nd 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. Assenagon Asset Management S.A. increased its holdings in Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after acquiring an additional 1,113 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction of $31,335,085.10. Following the completion of the transaction, the director now owns 12,559 shares in the company, valued at $362,955.10. The trade was a 98.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the sale, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,425,457 shares of company stock valued at $93,622,927 in the last ninety days. 13.82% of the stock is owned by company insiders.

Analyst Ratings Changes

CFLT has been the topic of several recent analyst reports. Scotiabank raised their price objective on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Baird R W upgraded Confluent to a “hold” rating in a research report on Wednesday, September 4th. UBS Group upped their price objective on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $31.00 target price on shares of Confluent in a research note on Friday, November 15th. Finally, Canaccord Genuity Group dropped their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Confluent Stock Performance

NASDAQ CFLT opened at $31.52 on Monday. The business’s 50 day moving average price is $23.35 and its 200-day moving average price is $24.57. 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 current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate 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 earnings per share for the current year.

Confluent 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.