GenTrust LLC Purchases New Holdings in Confluent, Inc. (NASDAQ:CFLT)

GenTrust LLC purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 51,539 shares of the company’s stock, valued at approximately $1,441,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. US Bancorp DE increased its position in Confluent by 307.7% during the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after purchasing an additional 12,605 shares during the period. Janney Capital Management LLC increased its position in Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after purchasing an additional 6,842 shares during the period. Fiera Capital Corp acquired a new position in Confluent during the 3rd quarter worth approximately $21,127,000. SpiderRock Advisors LLC increased its position in Confluent by 323.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company’s stock worth $5,381,000 after purchasing an additional 201,721 shares during the period. Finally, Assetmark Inc. increased its position in Confluent by 75,257.1% during the 3rd quarter. Assetmark Inc. now owns 36,925 shares of the company’s stock worth $753,000 after purchasing an additional 36,876 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, Director Matthew Craig Miller sold 347,646 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $32.69, for a total transaction of $11,364,547.74. Following the completion of the sale, the director now directly owns 22,688 shares in the company, valued at $741,670.72. This represents a 93.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Kong Phan sold 3,040 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $30.75, for a total value of $93,480.00. Following the sale, the chief accounting officer now owns 174,375 shares of the company’s stock, valued at approximately $5,362,031.25. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,394,730 shares of company stock worth $45,827,255 in the last ninety days. Insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CFLT. Mizuho boosted their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen boosted their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays boosted their price target on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Morgan Stanley boosted their price target on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group boosted their price target on Confluent from $34.00 to $38.00 and gave the stock 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.15.

Confluent Trading Up 1.1 %

Shares of Confluent stock opened at $30.79 on Thursday. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm has a market cap of $10.10 billion, a PE ratio of -28.51 and a beta of 0.92. The business’s fifty day moving average is $29.86 and its two-hundred day moving average is $26.21. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last released 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%. Analysts anticipate that Confluent, Inc. will post -0.83 earnings per share 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.