Stanley Laman Group Ltd. lowered its stake in shares of Confluent, Inc. (NASDAQ:CFLT – Free Report) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,498 shares of the company’s stock after selling 14,557 shares during the period. Stanley Laman Group Ltd.’s holdings in Confluent were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its stake in shares of Confluent by 110.3% during the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after acquiring an additional 31,729 shares in the last quarter. Sycomore Asset Management raised its holdings in Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock worth $9,176,000 after purchasing an additional 251,507 shares during the last quarter. Sei Investments Co. raised its holdings in Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock worth $9,022,000 after purchasing an additional 68,880 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Confluent during the first quarter worth $1,181,000. Finally, SWS Partners acquired a new stake in Confluent in the third quarter valued at $802,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Scotiabank cut their price target on Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Truist Financial reaffirmed a “buy” rating and issued a $30.00 price target (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. Piper Sandler dropped their price objective on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Mizuho reduced their target price on Confluent from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Evercore ISI lowered their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.79.
Insider Buying and Selling at Confluent
In other news, Director Lara Caimi sold 9,375 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $20.01, for a total value of $187,593.75. Following the completion of the sale, the director now owns 7,160 shares of the company’s stock, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Confluent news, insider Erica Schultz sold 9,556 shares of the business’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 transaction, the insider now owns 687,483 shares in the company, valued at $14,904,631.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.01, for a total value of $187,593.75. Following the sale, the director now owns 7,160 shares of the company’s stock, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock valued at $10,833,388 over the last ninety days. Corporate insiders own 13.82% of the company’s stock.
Confluent Price Performance
Shares of Confluent stock opened at $21.98 on Wednesday. The business’s fifty day moving average price is $20.76 and its 200 day moving average price is $25.00. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $35.07. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $6.98 billion, a P/E ratio of -17.58 and a beta of 0.88.
Confluent (NASDAQ:CFLT – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The firm had revenue of $234.99 million during the quarter, compared to analysts’ expectations of $229.49 million. As a group, research analysts anticipate that Confluent, Inc. will post -0.95 earnings per share for the current year.
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.
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