AQR Capital Management LLC Purchases 287,519 Shares of Confluent, Inc. (NASDAQ:CFLT)

AQR Capital Management LLC lifted its position in Confluent, Inc. (NASDAQ:CFLT) by 756.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 325,539 shares of the company’s stock after acquiring an additional 287,519 shares during the period. AQR Capital Management LLC’s holdings in Confluent were worth $9,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Credit Industriel ET Commercial bought a new position in Confluent in the fourth quarter worth $28,000. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent during the 4th quarter valued at about $59,000. GAMMA Investing LLC boosted its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after purchasing an additional 3,538 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $229,852.12. Following the sale, the chief accounting officer now directly owns 179,593 shares of the company’s stock, valued at $6,504,858.46. This trade represents a 3.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,260,746 shares of company stock valued at $39,702,750 over the last 90 days. 13.82% of the stock is currently owned by corporate insiders.

Confluent Trading Down 0.1 %

NASDAQ:CFLT opened at $19.74 on Wednesday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The business has a fifty day moving average price of $23.99 and a 200-day moving average price of $27.38. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -18.27 and a beta of 1.02. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CFLT. Royal Bank of Canada lifted their target price on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Wells Fargo & Company dropped their target price on Confluent from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. JMP Securities reduced their price target on Confluent from $40.00 to $36.00 and set a “market outperform” rating for the company in a report on Thursday, May 1st. Loop Capital dropped their price target on shares of Confluent from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Finally, Evercore ISI reduced their price objective on shares of Confluent from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.28.

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.