Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. decreased its stake in Confluent, Inc. (NASDAQ:CFLT) by 7.4% during the 4th quarter, Holdings Channel reports. The firm owned 163,709 shares of the company’s stock after selling 13,019 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Confluent were worth $3,831,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. DnB Asset Management AS acquired a new position in shares of Confluent in the 3rd quarter worth approximately $632,000. SG Americas Securities LLC grew its stake in shares of Confluent by 139.5% in the third quarter. SG Americas Securities LLC now owns 39,522 shares of the company’s stock valued at $1,170,000 after buying an additional 23,017 shares in the last quarter. Oak Thistle LLC lifted its position in shares of Confluent by 48.2% during the third quarter. Oak Thistle LLC now owns 8,829 shares of the company’s stock worth $261,000 after purchasing an additional 2,870 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Confluent in the third quarter valued at approximately $4,240,000. Finally, Handelsbanken Fonder AB increased its stake in Confluent by 5.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,792 shares of the company’s stock worth $793,000 after buying an additional 1,492 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Stock Up 0.0 %

Shares of NASDAQ:CFLT traded up $0.01 during trading on Thursday, hitting $28.89. 2,614,543 shares of the company’s stock traded hands, compared to its average volume of 4,896,608. The company has a 50-day moving average price of $31.00 and a 200-day moving average price of $26.40. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The company has a market cap of $9.03 billion, a price-to-earnings ratio of -19.65 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, February 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The firm had revenue of $213.18 million during the quarter, compared to the consensus estimate of $204.62 million. As a group, research analysts forecast that Confluent, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the sale, the chief technology officer now owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the completion of the transaction, the insider now owns 479,537 shares of the company’s stock, valued at $15,225,299.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the sale, the chief technology officer now owns 532,072 shares in the company, valued at $16,600,646.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,433,170 shares of company stock worth $46,438,029. Insiders own 22.08% of the company’s stock.

Analyst Ratings Changes

CFLT has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Mizuho reduced their target price on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Royal Bank of Canada boosted their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus began coverage on Confluent in a report on Wednesday, February 21st. They issued a “buy” rating and a $40.00 price target for the company. Finally, Needham & Company LLC raised their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.64.

About Confluent

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.