GenTrust LLC Takes $1.44 Million Position in Confluent, Inc. (NASDAQ:CFLT)

GenTrust LLC purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 51,539 shares of the company’s stock, valued at approximately $1,441,000.

Several other large investors have also modified their holdings of CFLT. Blue Trust Inc. lifted its holdings in Confluent by 354.0% in 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 last quarter. Point72 Hong Kong Ltd bought a new position in Confluent in the third quarter worth about $68,000. GAMMA Investing LLC lifted its holdings in Confluent by 85.3% in the fourth 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. IFP Advisors Inc lifted its holdings in Confluent by 48.4% in the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock worth $138,000 after acquiring an additional 1,613 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after acquiring an additional 1,619 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CFLT. Barclays raised their price target on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price target on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler raised their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Guggenheim raised their price target on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.15.

Insider Buying and Selling

In related news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.21, for a total value of $1,988,982.09. Following the completion of the transaction, the insider now owns 678,016 shares of the company’s stock, valued at approximately $21,160,879.36. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,394,730 shares of company stock valued at $45,827,255. Company insiders own 13.82% of the company’s stock.

Confluent Trading Up 1.1 %

Confluent stock opened at $30.79 on Thursday. The company has a 50 day moving average price of $29.86 and a 200 day moving average price of $26.21. 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 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92.

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

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.