Bank Julius Baer & Co. Ltd Zurich Increases Stake in Confluent, Inc. (NASDAQ:CFLT)

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Confluent, Inc. (NASDAQ:CFLT) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,281 shares of the company’s stock after acquiring an additional 1,137 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Confluent were worth $472,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. boosted its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Confluent in the 4th quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent in the 3rd quarter valued at about $68,000. GAMMA Investing LLC boosted its stake in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Finally, IFP Advisors Inc grew its position in shares of Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock worth $138,000 after buying an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Stock Down 8.3 %

CFLT opened at $24.40 on Tuesday. The business has a 50 day moving average price of $29.85 and a two-hundred day moving average price of $26.68. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a market cap of $8.15 billion, a PE ratio of -22.59 and a beta of 0.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other Confluent news, CAO Kong Phan sold 12,460 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00. Following the transaction, the chief accounting officer now owns 183,886 shares in the company, valued at approximately $5,755,631.80. The trade was a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s 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 sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,248,478 shares of company stock worth $40,003,844. 13.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CFLT shares. Loop Capital reduced their target price on shares of Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Monday. Guggenheim raised their price objective on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Stifel Nicolaus increased their target price on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Confluent in a report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Confluent 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.