Lbp Am Sa Sells 299,619 Shares of Confluent, Inc. (NASDAQ:CFLT)

LBP AM SA reduced its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 876,581 shares of the company's stock after selling 299,619 shares during the period. LBP AM SA owned approximately 0.26% of Confluent worth $20,547,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Credit Industriel ET Commercial bought a new position in Confluent in the 4th quarter worth approximately $28,000. Cloud Capital Management LLC bought a new position in Confluent in the 1st quarter worth approximately $26,000. Versant Capital Management Inc increased its position in Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after buying an additional 1,647 shares during the period. SBI Securities Co. Ltd. bought a new position in Confluent in the 4th quarter worth approximately $59,000. Finally, GAMMA Investing LLC increased its position in Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock worth $73,000 after buying an additional 661 shares during the period. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CFLT shares. DA Davidson decreased their price objective on Confluent from $42.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC decreased their price objective on Confluent from $40.00 to $26.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays decreased their price objective on Confluent from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Piper Sandler decreased their price objective on Confluent from $40.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus decreased their price objective on Confluent from $40.00 to $30.00 and set a "buy" rating on the stock in a 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Confluent currently has an average rating of "Moderate Buy" and an average target price of $30.11.

Insider Activity at Confluent

In other news, CAO Kong Phan sold 3,575 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $23.49, for a total transaction of $83,976.75. Following the completion of the sale, the chief accounting officer owned 239,742 shares in the company, valued at $5,631,539.58. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Ban Ryan Norris Mac sold 1,225 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $23.49, for a total value of $28,775.25. Following the sale, the executive owned 411,830 shares of the company's stock, valued at approximately $9,673,886.70. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 546,669 shares of company stock valued at $12,637,193 over the last quarter. 9.20% of the stock is currently owned by corporate insiders.

Confluent Price Performance

CFLT traded down $1.06 during trading on Thursday, hitting $24.50. The company's stock had a trading volume of 7,002,334 shares, compared to its average volume of 5,018,321. The firm's 50 day moving average price is $23.31 and its two-hundred day moving average price is $25.81. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of -25.00 and a beta of 0.99.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 29.92% and a negative net margin of 31.42%. The firm had revenue of $271.12 million during the quarter, compared to the consensus estimate of $264.45 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. Sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal 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.