Universal Beteiligungs und Servicegesellschaft mbH Buys New Position in Confluent, Inc. (NASDAQ:CFLT)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Confluent, Inc., purchasing 223,757 shares valued at approximately $5,245,000, increasing its holdings to 0.07% of the company.
• Multiple institutional investors have adjusted their positions in Confluent, with Principal Financial Group Inc. raising its holdings by 47.3% to own 528,171 shares valued at $12,380,000.
• Confluent's recent earnings report showed a revenue of $271.12 million for the quarter, surpassing expectations, although the company reported a negative net margin of 31.42%.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 223,757 shares of the company's stock, valued at approximately $5,245,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Confluent at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Credit Industriel ET Commercial bought a new stake in Confluent in the 4th quarter worth about $28,000. Cloud Capital Management LLC bought a new position in shares of Confluent during the 1st quarter valued at approximately $26,000. Versant Capital Management Inc grew its position in shares of Confluent by 2,458.2% during the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock valued at $40,000 after acquiring an additional 1,647 shares during the period. GAMMA Investing LLC grew its position in shares of Confluent by 26.8% during the 1st quarter. GAMMA Investing LLC now owns 3,128 shares of the company's stock valued at $73,000 after acquiring an additional 661 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Confluent during the 4th quarter valued at approximately $153,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Insider Activity

In other Confluent news, CRO Ban Ryan Norris Mac sold 1,225 shares of Confluent stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $23.49, for a total value of $28,775.25. Following the completion of the transaction, the executive directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lara Caimi sold 2,864 shares of Confluent stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $24.10, for a total transaction of $69,022.40. Following the completion of the transaction, the director directly owned 4,296 shares of the company's stock, valued at $103,533.60. This trade represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 546,669 shares of company stock worth $12,637,193. 13.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

CFLT has been the subject of a number of research reports. Robert W. Baird reduced their target price on shares of Confluent from $37.00 to $24.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. DA Davidson dropped their price target on shares of Confluent from $42.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group upped their price target on shares of Confluent from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Loop Capital dropped their price target on shares of Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC lowered their target price on shares of Confluent from $40.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.36.

Confluent Trading Down 1.3%

Confluent stock traded down $0.35 during trading hours on Monday, reaching $27.00. The stock had a trading volume of 5,919,362 shares, compared to its average volume of 4,938,642. The stock has a market cap of $9.19 billion, a PE ratio of -27.55 and a beta of 0.99. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.42 and a quick ratio of 4.42. The company has a fifty day simple moving average of $24.30 and a 200-day simple moving average of $25.49.

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