Skandinaviska Enskilda Banken AB publ Has $1.39 Million Stake in Confluent, Inc. (NASDAQ:CFLT)

Skandinaviska Enskilda Banken AB publ decreased its stake in Confluent, Inc. (NASDAQ:CFLT) by 56.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,182 shares of the company’s stock after selling 61,564 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Confluent were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Confluent by 3.5% in the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after buying an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after buying an additional 2,587,169 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Confluent during the second quarter worth about $193,403,000. 1832 Asset Management L.P. acquired a new stake in shares of Confluent during the first quarter worth about $181,075,000. Finally, Coatue Management LLC acquired a new stake in shares of Confluent during the fourth quarter worth about $134,132,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $9,045,235.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chad Verbowski sold 13,540 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $293,547.20. Following the sale, the chief technology officer now owns 496,807 shares in the company, valued at approximately $10,770,775.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 524,263 shares of company stock valued at $10,829,566. Corporate insiders own 13.82% of the company’s stock.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $19.69 on Tuesday. The stock has a market capitalization of $6.26 billion, a PE ratio of -15.75 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 4.44 and a quick ratio of 4.44. The business has a fifty day moving average price of $21.71 and a two-hundred day moving average price of $26.52. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The company had revenue of $234.99 million during the quarter, compared to analyst estimates of $229.49 million. As a group, equities analysts predict that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on CFLT. JPMorgan Chase & Co. raised Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 price target on the stock in a research report on Friday, August 9th. Loop Capital dropped their price target on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Bank of America dropped their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Baird R W raised Confluent to a “hold” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.97.

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.