Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 25.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,383,028 shares of the company’s stock after buying an additional 284,307 shares during the period. Northern Trust Corp’s holdings in Confluent were worth $38,669,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Credit Industriel ET Commercial acquired a new position in Confluent in the 4th quarter valued at $28,000. Blue Trust Inc. increased its stake in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Confluent during the fourth quarter worth about $59,000. GAMMA Investing LLC boosted its stake in 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 buying an additional 1,136 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after buying an additional 3,538 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $14,628,937.04. This trade represents a 33.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kong Phan sold 6,346 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $229,852.12. Following the transaction, the chief accounting officer now owns 179,593 shares in the company, valued at $6,504,858.46. This represents a 3.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,260,746 shares of company stock worth $39,702,750. Company insiders own 13.82% of the company’s stock.

Analyst Ratings Changes

CFLT has been the topic of several research analyst reports. Canaccord Genuity Group decreased their target price on shares of Confluent from $38.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Truist Financial dropped their price objective on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Bank of America lifted their target price on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. TD Securities dropped their price target on Confluent from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, DA Davidson reduced their price objective on Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.11.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $20.65 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market capitalization of $6.90 billion, a PE ratio of -19.12 and a beta of 1.02. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The business’s fifty day moving average price is $23.40 and its two-hundred day moving average price is $27.31.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. The firm had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. During the same period last year, the firm posted $0.05 EPS. Confluent’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

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.