Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 29.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,896 shares of the company's stock after selling 18,546 shares during the period. Hsbc Holdings PLC's holdings in Confluent were worth $1,236,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. M&T Bank Corp raised its position in Confluent by 12.3% during the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after acquiring an additional 2,367 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Confluent during the 4th quarter worth $758,000. Victory Capital Management Inc. raised its holdings in shares of Confluent by 135.7% during the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock valued at $18,146,000 after purchasing an additional 373,682 shares in the last quarter. Truist Financial Corp boosted its holdings in Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after purchasing an additional 514 shares in the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in Confluent during the fourth quarter worth $252,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Trading Up 1.6 %

Shares of NASDAQ:CFLT traded up $0.32 during midday trading on Thursday, reaching $20.75. 1,197,788 shares of the company's stock were exchanged, compared to its average volume of 4,720,258. The firm's 50 day simple moving average is $23.76 and its two-hundred day simple moving average is $27.33. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. 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 stock has a market cap of $6.93 billion, a price-to-earnings ratio of -19.21 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Canaccord Genuity Group cut their price objective on Confluent from $38.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price objective on shares of Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. DA Davidson dropped their target price on shares of Confluent from $42.00 to $28.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Guggenheim decreased their price target on shares of Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, TD Securities dropped their price objective on Confluent from $34.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.28.

Insider Buying and Selling at Confluent

In other news, insider Erica Schultz sold 150,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total value of $5,373,000.00. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $24,286,533.12. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares of the company's stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,260,746 shares of company stock worth $39,702,750 over the last ninety days. Corporate insiders own 13.82% of the company's stock.

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.