Diversified Trust Co Grows Holdings in Confluent, Inc. (NASDAQ:CFLT)

Diversified Trust Co raised its position in Confluent, Inc. (NASDAQ:CFLT) by 110.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,503 shares of the company’s stock after buying an additional 31,729 shares during the period. Diversified Trust Co’s holdings in Confluent were worth $1,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFLT. William Blair Investment Management LLC purchased a new stake in shares of Confluent during the second quarter worth about $193,403,000. 1832 Asset Management L.P. purchased a new stake in shares of Confluent during the first quarter worth about $181,075,000. Coatue Management LLC purchased a new stake in shares of Confluent during the fourth quarter worth about $134,132,000. Champlain Investment Partners LLC purchased a new stake in shares of Confluent during the first quarter worth about $144,563,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, CTO Chad Verbowski sold 13,540 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $293,547.20. Following the completion of the transaction, the chief technology officer now owns 496,807 shares of the company’s stock, valued at $10,770,775.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Chad Verbowski sold 13,540 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $293,547.20. Following the completion of the transaction, the chief technology officer now owns 496,807 shares of the company’s stock, valued at $10,770,775.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock worth $10,833,388 over the last ninety days. 13.82% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CFLT. Mizuho lowered their price target on shares of Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Confluent in a research report on Monday, September 23rd. Bank of America lowered their price target on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus lowered their price target on shares of Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Loop Capital lowered their price target on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $29.97.

Confluent Stock Performance

NASDAQ:CFLT opened at $19.89 on Wednesday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $20.50 and a two-hundred day moving average price of $25.58. Confluent, Inc. has a twelve month low of $14.69 and a twelve month high of $35.07. The company has a market capitalization of $6.32 billion, a P/E ratio of -15.91 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The business had revenue of $234.99 million for the quarter, compared to analysts’ expectations of $229.49 million. As a group, research analysts expect that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.

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.