Charles Schwab Investment Management Inc. Acquires 64,926 Shares of Confluent, Inc. (NASDAQ:CFLT)

Charles Schwab Investment Management Inc. increased its holdings in Confluent, Inc. (NASDAQ:CFLT) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,284,037 shares of the company’s stock after acquiring an additional 64,926 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.70% of Confluent worth $46,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cetera Advisors LLC increased its stake in shares of Confluent by 209.6% during the first quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock valued at $976,000 after purchasing an additional 21,646 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after buying an additional 857 shares during the last quarter. Fulton Bank N.A. increased its position in Confluent by 15.0% during the 2nd quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after buying an additional 1,064 shares in the last quarter. CWM LLC raised its stake in Confluent by 17.6% during the second quarter. CWM LLC now owns 10,099 shares of the company’s stock valued at $298,000 after buying an additional 1,515 shares during the last quarter. Finally, Sax Wealth Advisors LLC bought a new stake in Confluent in the second quarter worth $1,535,000. 78.09% of the stock is currently owned by institutional investors.

Confluent Trading Up 0.9 %

Shares of Confluent stock opened at $30.84 on Monday. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07. The company’s fifty day simple moving average is $24.40 and its 200-day simple moving average is $24.64. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The stock has a market capitalization of $10.12 billion, a PE ratio of -27.78 and a beta of 0.82.

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

Insider Activity

In related news, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction on Monday, November 18th. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the transaction, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Craig Miller sold 1,084,259 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. Following the completion of the sale, the director now owns 12,559 shares of the company’s stock, valued at $362,955.10. The trade was a 98.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,237,879 shares of company stock valued at $118,823,850 in the last ninety days. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Mizuho lifted their target price on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. TD Cowen increased their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One research 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’s stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

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.