Lecap Asset Management Ltd. Invests $1.15 Million in Confluent, Inc. (NASDAQ:CFLT)

Lecap Asset Management Ltd. bought a new stake in Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 40,949 shares of the company’s stock, valued at approximately $1,145,000.

Other institutional investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC raised its holdings in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. Geode Capital Management LLC raised its stake 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 purchasing an additional 107,510 shares in the last quarter. Atreides Management LP lifted its position 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 purchasing an additional 184,865 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after buying an additional 802,353 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Confluent by 2.9% in 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 buying an additional 64,926 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on CFLT shares. Guggenheim raised their price objective on shares of Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 31st. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upped their price target on Confluent from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $32.30.

Insider Activity

In other Confluent news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total value of $1,746,174.60. Following the transaction, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $18,837,034.20. This trade represents a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $378,677.22. Following the sale, the chief technology officer now owns 483,393 shares of the company’s stock, valued at $13,646,184.39. The trade was a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,825,395 shares of company stock valued at $85,343,808. 13.82% of the stock is currently owned by insiders.

Confluent Price Performance

Shares of CFLT stock opened at $30.02 on Friday. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of -27.04 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $29.51 and a 200 day moving average price of $25.20.

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.