Moody National Bank Trust Division Buys Shares of 7,270 Confluent, Inc. (NASDAQ:CFLT)

Moody National Bank Trust Division bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,270 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CFLT. Diversified Trust Co increased its holdings in shares of Confluent by 21.5% during the fourth quarter. Diversified Trust Co now owns 73,529 shares of the company’s stock worth $2,056,000 after buying an additional 13,026 shares in the last quarter. GAMMA Investing LLC grew its position in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Confluent in the 3rd quarter worth about $7,646,000. Tidal Investments LLC raised its position in Confluent by 521.0% in the third quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock valued at $1,030,000 after purchasing an additional 42,406 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in Confluent by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock valued at $384,000 after purchasing an additional 3,298 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Confluent Price Performance

Shares of CFLT opened at $27.81 on Thursday. The business’s fifty day moving average is $29.62 and its 200 day moving average is $24.94. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market cap of $9.12 billion, a P/E ratio of -25.05 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Sell-side analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CFLT has been the subject of several recent research reports. Sanford C. Bernstein lowered their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. TD Cowen raised their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Scotiabank boosted their price objective on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Barclays increased their price objective on Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Citigroup lifted their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.46.

Insiders Place Their Bets

In other news, CAO Kong Phan sold 2,096 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $59,170.08. Following the completion of the sale, the chief accounting officer now owns 190,680 shares in the company, valued at $5,382,896.40. This represents a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Craig Miller sold 53,512 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $33.64, for a total transaction of $1,800,143.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,584,712 shares of company stock valued at $132,928,936. Corporate insiders own 13.82% of the company’s stock.

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.