SG Americas Securities LLC Decreases Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

SG Americas Securities LLC reduced its position in Confluent, Inc. (NASDAQ:CFLT) by 75.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,364 shares of the company’s stock after selling 64,435 shares during the period. SG Americas Securities LLC’s holdings in Confluent were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFLT. Champlain Investment Partners LLC boosted its stake in Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares during the last quarter. Atreides Management LP boosted its position in shares of Confluent by 7.3% in the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after purchasing an additional 184,865 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after buying an additional 802,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Confluent by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after buying an additional 64,926 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Stock Down 2.0 %

Confluent stock opened at $29.50 on Friday. 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 $9.68 billion, a PE ratio of -26.58 and a beta of 0.91. The business has a 50 day simple moving average of $29.71 and a 200-day simple moving average of $25.03. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Mizuho raised their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen upped their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Robert W. Baird boosted their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and an average price target of $32.37.

Insider Activity

In other news, Director Michelangelo Volpi sold 477,952 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $26.41, for a total value of $12,622,712.32. Following the transaction, the director now owns 317,079 shares in the company, valued at $8,374,056.39. This trade represents a 60.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chad Verbowski sold 13,414 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $378,677.22. Following the sale, the chief technology officer now owns 483,393 shares of the company’s stock, valued at $13,646,184.39. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,370,589 shares of company stock worth $127,326,348 over the last 90 days. 13.82% of the stock is currently owned by company insiders.

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.