Diversified Trust Co Takes $639,000 Position in Confluent, Inc. (NASDAQ:CFLT)

Diversified Trust Co purchased a new position in Confluent, Inc. (NASDAQ:CFLT) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 20,950 shares of the company’s stock, valued at approximately $639,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. Coatue Management LLC acquired a new position in shares of Confluent in the 4th quarter valued at approximately $134,132,000. Vanguard Group Inc. raised its holdings in Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after acquiring an additional 2,125,843 shares in the last quarter. Norges Bank bought a new position in Confluent during the 4th quarter valued at $37,046,000. Trivest Advisors Ltd acquired a new position in Confluent during the 4th quarter worth $31,145,000. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new stake in shares of Confluent in the 4th quarter worth about $29,833,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Trading Down 1.8 %

Shares of NASDAQ CFLT opened at $28.58 on Thursday. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 1.29. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The business has a 50-day moving average price of $28.71 and a two-hundred day moving average price of $28.17. The firm has a market capitalization of $9.08 billion, a PE ratio of -22.86 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Confluent had a negative return on equity of 40.55% and a negative net margin of 46.73%. The company had revenue of $217.24 million for the quarter, compared to analyst estimates of $211.57 million. As a group, analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CFLT shares. Evercore ISI started coverage on shares of Confluent in a research report on Tuesday, June 11th. They set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Confluent in a research report on Tuesday, June 11th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 price target on shares of Confluent in a research report on Tuesday, June 4th. Wells Fargo & Company lifted their price objective on shares of Confluent from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Oppenheimer started coverage on shares of Confluent in a research note on Friday, May 17th. They set an “outperform” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.93.

Insider Buying and Selling at Confluent

In related news, Director Lara Caimi sold 9,375 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $31.00, for a total transaction of $290,625.00. Following the completion of the sale, the director now directly owns 5,399 shares in the company, valued at $167,369. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Confluent news, CAO Ying Christina Liu sold 68,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $31.06, for a total value of $2,112,080.00. Following the completion of the sale, the chief accounting officer now directly owns 168,338 shares of the company’s stock, valued at $5,228,578.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lara Caimi sold 9,375 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $31.00, for a total transaction of $290,625.00. Following the transaction, the director now owns 5,399 shares in the company, valued at approximately $167,369. The disclosure for this sale can be found here. Insiders sold 632,725 shares of company stock valued at $18,138,428 in the last quarter. Company insiders own 13.82% of the company’s stock.

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.