Truist Financial Corp Has $721,000 Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Truist Financial Corp raised its holdings in Confluent, Inc. (NASDAQ:CFLT) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 24,420 shares of the company’s stock after acquiring an additional 1,238 shares during the quarter. Truist Financial Corp’s holdings in Confluent were worth $721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CFLT. Hollencrest Capital Management bought a new stake in shares of Confluent in the first quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Confluent in the second quarter valued at about $68,000. UniSuper Management Pty Ltd raised its position in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other news, Director Lara Caimi sold 9,375 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the transaction, the director now owns 7,160 shares in the company, valued at approximately $143,271.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the sale, the director now directly owns 7,160 shares in the company, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Chad Verbowski sold 13,540 shares of the 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 completion of the sale, the chief technology officer now owns 496,807 shares in the company, valued at $10,770,775.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 524,453 shares of company stock worth $10,833,388 over the last ninety days. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Performance

Shares of Confluent stock opened at $22.36 on Tuesday. The company has a market cap of $7.11 billion, a PE ratio of -17.89 and a beta of 0.88. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.07. The business has a 50 day moving average price of $20.50 and a 200-day moving average price of $25.26.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on CFLT shares. JPMorgan Chase & Co. upgraded shares of Confluent from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a report on Friday, August 9th. Scotiabank lowered their target price on shares of Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Truist Financial reissued a “buy” rating and issued a $30.00 price objective (down from $36.00) on shares of Confluent in a research report on Thursday, August 1st. Finally, Mizuho dropped their price objective on Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.