The Vanguard Group, Inc. has recently announced that it has increased stake in Confluent Inc (NASDAQ:CFLT) by 12.42%. After grabbing 18.16 million shares, the institutional investor is now in possession of 2.01 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.28% having worth around $385.36 million. Moreover, Altimeter Capital Management LP increased its share by 0.31 million to have a control over 16.61 million shares. And Fidelity Management & Research Co raised its holdings to 1.31 million shares by acquiring 16.12 million shares or 7.35% of the stake.
Confluent Inc (CFLT) concluded trading on 01/03/24 at a closing price of $21.74, with 4.29 million shares of worth about $93.36 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -36.53% during that period and on Wednesday the price saw a loss of about -4.31%. Currently the company’s common shares owned by public are about 307.88M shares, out of which, 207.18M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 248 times over the past 12 months. They bought 32,678,226 shares in 109 of the transactions. In 139 selling transactions, insiders dumped 34,265,866 shares.
Vanguard Total Stock Market ETF, American Funds Small Cap World Fu, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Confluent Inc Vanguard Total Stock Market ETF is currently holding 5.66 million shares of worth totaling $120.17 million. The company recently came buying 7326.0 shares which brought its stake up to 2.58% of the company’s outstanding shares. American Funds Small Cap World Fu sold -0.12 million shares, after which its hold over company’s outstanding shares shrunk to 2.55%, leaving 5.59 million shares with the mutual fund that have a worth of about $118.6 million. Vanguard Small Cap Index Fund, after buying 4.67 million shares, have now control over 2.13% of the stake in the company. It holds 20328.0 shares of worth $99.03 million.
Confluent Inc (NASDAQ: CFLT) started trading at $22.11, below -$0.61 from concluding price of the previous day. However, the stock later moved at a day high price of 22.56, or with a loss of -4.31%. Stock saw a price change of -10.20% in past 5 days and over the past one month there was a price change of -4.77%. Year-to-date (YTD), CFLT shares are showing a performance of -7.09% which decreased to -2.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $14.69 but also hit the highest price of $41.22 during that period. The average intraday trading volume for Confluent Inc shares is 5.60 million. The stock is currently trading -8.69% below its 20-day simple moving average (SMA20), while that difference is down -3.50% for SMA50 and it goes to -22.81% lower than SMA200.
The Vanguard Group, Inc. acquired 18.16 million shares of Confluent Inc having value of about $385.36 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.01 million shares in the company valued at close to $43627679.82, or have control over 12.42% stake in the company. Confluent Inc (NASDAQ: CFLT) currently have 307.88M outstanding shares and institutions hold larger chunk of about 62.59% of that. Holding of mutual funds in the company is about 38.06% while other institutional holders and individual stake holders have control over 50.18% and 11.82% of the stake respectively.
The stock has a current market capitalization of $6.69B and its 3Y-monthly beta is at 0.70. It has posted earnings per share of -$1.54 in the same period. It has Quick Ratio of 4.88 while making debt-to-equity ratio of 1.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CFLT, volatility over the week remained 3.57% while standing at 4.19% over the month.
Analysts are in expectations that Confluent Inc (CFLT) stock would likely to be making an EPS of $0.05 in the current quarter, while forecast for next quarter EPS is $0.02 and it is $0.17 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.04 which is $0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 99.07% while it is estimated to increase by 3247.83% in next year.
Analysts at 27 brokerage firms have issued recommendations for the Confluent Inc (CFLT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.85. Out of those 27 Wall Street analysts, 15 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on November 28, 2023 offering an Outperform rating for the stock and assigned a target price of $34 to it.
