Stanley Laman Group Ltd. Grows Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Stanley Laman Group Ltd. increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 94.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,531 shares of the company's stock after purchasing an additional 118,706 shares during the quarter. Confluent makes up 0.9% of Stanley Laman Group Ltd.'s portfolio, making the stock its 22nd biggest holding. Stanley Laman Group Ltd. owned approximately 0.07% of Confluent worth $5,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Credit Industriel ET Commercial purchased a new stake in shares of Confluent during the 4th quarter valued at about $28,000. Versant Capital Management Inc increased its stake in Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after acquiring an additional 1,647 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Confluent during the fourth quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in shares of Confluent by 26.8% in the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after purchasing an additional 661 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock valued at $99,000 after purchasing an additional 3,538 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Analyst Ratings Changes

CFLT has been the topic of several recent research reports. Robert W. Baird decreased their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays lowered their target price on shares of Confluent from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Oppenheimer cut their price target on shares of Confluent from $35.00 to $32.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Guggenheim reduced their price objective on shares of Confluent from $38.00 to $31.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on Confluent from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average target price of $30.11.

Insiders Place Their Bets

In other Confluent news, Director Neha Narkhede sold 60,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $19.96, for a total transaction of $1,197,600.00. Following the transaction, the director now owns 20,247 shares of the company's stock, valued at approximately $404,130.12. The trade was a 74.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Melanie Davis Vinson sold 14,087 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $21.83, for a total value of $307,519.21. Following the sale, the insider now directly owns 429,599 shares of the company's stock, valued at approximately $9,378,146.17. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 545,044 shares of company stock worth $12,609,722. Company insiders own 9.20% of the company's stock.

Confluent Stock Performance

CFLT traded up $0.02 on Monday, reaching $23.67. 5,032,507 shares of the stock were exchanged, compared to its average volume of 4,905,939. The company's 50-day moving average price is $22.27 and its 200 day moving average price is $26.60. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market capitalization of $8.06 billion, a PE ratio of -21.92 and a beta of 0.98. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The company had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. During the same period last year, the business earned $0.05 earnings per share. Confluent's quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

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.