Confluent, Inc. (NASDAQ:CFLT) Shares Acquired by KBC Group NV

KBC Group NV increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 683.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,090 shares of the company’s stock after purchasing an additional 106,513 shares during the period. KBC Group NV’s holdings in Confluent were worth $3,414,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the period. GAMMA Investing LLC grew its holdings in shares of Confluent by 85.3% in 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 period. Point72 Hong Kong Ltd acquired a new stake in Confluent in the third quarter valued at $68,000. Moody National Bank Trust Division acquired a new position in shares of Confluent during the 4th quarter worth approximately $203,000. Finally, Centaurus Financial Inc. boosted its stake in shares of Confluent by 109.2% during the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock worth $216,000 after purchasing an additional 3,821 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Confluent Stock Up 0.6 %

CFLT opened at $29.68 on Friday. The firm has a market cap of $9.73 billion, a P/E ratio of -26.74 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The business has a 50 day moving average price of $29.67 and a 200 day moving average price of $25.05. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CFLT. TD Cowen increased their price target on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Piper Sandler upped their target price on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Royal Bank of Canada raised their price target on shares of Confluent from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Mizuho lifted their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.30.

Insider Transactions at Confluent

In related news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the transaction, the insider now directly owns 687,483 shares of the company’s stock, valued at $18,837,034.20. This trade represents a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Chad Verbowski sold 13,414 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the transaction, the chief technology officer now owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,370,589 shares of company stock worth $127,326,348. 13.82% of the stock is currently owned by company insiders.

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.