KBC Group NV Sells 111,926 Shares of Confluent, Inc. (NASDAQ:CFLT)

KBC Group NV decreased its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 91.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,164 shares of the company's stock after selling 111,926 shares during the quarter. KBC Group NV's holdings in Confluent were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Confluent by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company's stock valued at $694,207,000 after buying an additional 599,582 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in Confluent by 1.3% in the 4th quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company's stock valued at $302,940,000 after acquiring an additional 133,908 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Confluent by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company's stock valued at $123,339,000 after acquiring an additional 84,163 shares during the period. Jericho Capital Asset Management L.P. grew its holdings in shares of Confluent by 18.1% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company's stock worth $83,880,000 after purchasing an additional 459,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Confluent in the fourth quarter worth $81,092,000. Institutional investors own 78.09% of the company's stock.

Confluent Trading Down 1.8%

CFLT traded down $0.48 during trading on Monday, hitting $25.82. 4,697,307 shares of the stock traded hands, compared to its average volume of 5,011,569. The firm has a 50-day moving average of $23.11 and a 200 day moving average of $25.88. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The firm has a market capitalization of $8.79 billion, a P/E ratio of -26.35 and a beta of 0.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.42 and a quick ratio of 4.42.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The company had revenue of $271.12 million during the quarter, compared to the consensus estimate of $264.45 million. Confluent had a negative return on equity of 29.92% and a negative net margin of 31.42%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.05 earnings per share. Equities research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Ban Ryan Norris Mac sold 1,225 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $28,775.25. Following the sale, the executive directly owned 411,830 shares of the company's stock, valued at $9,673,886.70. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $24.50, for a total value of $5,696,250.00. Following the completion of the transaction, the chief executive officer directly owned 452,488 shares of the company's stock, valued at approximately $11,085,956. This trade represents a 33.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 546,669 shares of company stock valued at $12,637,193. Insiders own 13.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CFLT shares. Truist Financial reduced their price objective on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Oppenheimer dropped their target price on shares of Confluent from $35.00 to $32.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Morgan Stanley decreased their price target on shares of Confluent from $32.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. Finally, UBS Group cut their target price on shares of Confluent from $38.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.11.

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.