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

Stanley Laman Group Ltd. raised its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 94.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,531 shares of the company's stock after purchasing an additional 118,706 shares during the period. Confluent accounts for about 0.9% of Stanley Laman Group Ltd.'s portfolio, making the stock its 22nd biggest position. Stanley Laman Group Ltd. owned about 0.07% of Confluent worth $5,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. M&T Bank Corp increased its position in shares of Confluent by 12.3% during the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after purchasing an additional 2,367 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Confluent by 135.7% during the fourth quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after buying an additional 373,682 shares during the period. Truist Financial Corp increased its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after acquiring an additional 514 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Confluent by 5.2% in the fourth quarter. Janus Henderson Group PLC now owns 107,900 shares of the company's stock valued at $3,017,000 after acquiring an additional 5,300 shares during the period. Finally, Atria Investments Inc purchased a new stake in shares of Confluent in the fourth quarter valued at $347,000. 78.09% of the stock is owned by institutional investors.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 3,175 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the completion of the sale, the chief accounting officer now owns 246,516 shares in the company, valued at approximately $6,621,419.76. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 27,710 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $21.83, for a total value of $604,909.30. Following the transaction, the chief financial officer now directly owns 673,693 shares in the company, valued at $14,706,718.19. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 545,044 shares of company stock valued at $12,609,722 in the last 90 days. Insiders own 9.20% of the company's stock.

Confluent Stock Down 3.1%

Confluent stock traded down $0.76 during mid-day trading on Friday, reaching $23.65. 4,449,415 shares of the company were exchanged, compared to its average volume of 4,896,633. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market cap of $8.05 billion, a P/E ratio of -21.90 and a beta of 0.98. The business has a fifty day moving average of $22.19 and a 200 day moving average of $26.71. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $271.12 million during the quarter, compared to analysts' expectations of $264.45 million. During the same period in the prior year, the business posted $0.05 EPS. The firm's quarterly revenue was up 24.8% on a year-over-year basis. Research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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. Citigroup reiterated a "neutral" rating on shares of Confluent in a report on Wednesday, May 21st. TD Securities decreased their price target on Confluent from $34.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JMP Securities cut their price objective on Confluent from $40.00 to $36.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital reduced their target price on Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.