Swedbank AB Purchases Shares of 175,000 Confluent, Inc. (NASDAQ:CFLT)

Swedbank AB acquired a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 175,000 shares of the company’s stock, valued at approximately $4,893,000.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Confluent in the third quarter worth approximately $68,000. GAMMA Investing LLC grew its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Confluent by 36.4% during the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Moody National Bank Trust Division bought a new stake in shares of Confluent in the 4th quarter worth approximately $203,000. 78.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michelangelo Volpi sold 477,952 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $26.41, for a total transaction of $12,622,712.32. Following the completion of the sale, the director now owns 317,079 shares in the company, valued at approximately $8,374,056.39. This trade represents a 60.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $28.74, for a total value of $113,436.78. Following the completion of the transaction, the chief accounting officer now directly owns 179,939 shares in the company, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,370,589 shares of company stock valued at $127,326,348. 13.82% of the stock is owned by corporate insiders.

Confluent Price Performance

Shares of Confluent stock opened at $29.68 on Friday. The stock has a market cap of $9.73 billion, a P/E ratio of -26.74 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s fifty day moving average is $29.67 and its 200 day moving average is $25.04. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CFLT. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Citigroup increased their target price on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. TD Cowen boosted their price objective on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $32.30.

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.