Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Amundi

Amundi decreased its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 27.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,002,045 shares of the company’s stock after selling 767,012 shares during the quarter. Amundi’s holdings in Confluent were worth $57,379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Confluent by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock worth $472,000 after purchasing an additional 1,137 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Confluent during the fourth quarter worth about $5,682,000. Lisanti Capital Growth LLC acquired a new stake in shares of Confluent during the fourth quarter worth about $4,381,000. Arizona State Retirement System lifted its holdings in shares of Confluent by 2.6% during the fourth quarter. Arizona State Retirement System now owns 68,883 shares of the company’s stock worth $1,926,000 after purchasing an additional 1,757 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Confluent by 12.3% during the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company’s stock worth $602,000 after purchasing an additional 2,367 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CFLT. Loop Capital reduced their price target on Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Monday. Truist Financial lifted their price target on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lifted their price target on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Stifel Nicolaus lifted their price target on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Mizuho lifted their price target on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Stock Performance

Shares of NASDAQ:CFLT opened at $25.50 on Wednesday. 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 business’s 50 day moving average price is $29.80 and its 200-day moving average price is $26.71. The firm has a market capitalization of $8.52 billion, a PE ratio of -23.61 and a beta of 0.89. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. As a group, equities research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Confluent news, insider Erica Schultz sold 150,000 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the transaction, the insider now owns 678,016 shares of the company’s stock, valued at approximately $24,286,533.12. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lara Caimi sold 34,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.32, for a total value of $1,080,540.00. Following the transaction, the director now directly owns 7,160 shares in the company, valued at $224,251.20. This trade represents a 82.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,248,478 shares of company stock valued at $40,003,844. Insiders own 13.82% of the company’s stock.

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.