KBC Group NV Has $317,000 Stock Position in Confluent, Inc. (NASDAQ:CFLT)

KBC Group NV lessened its holdings in Confluent, Inc. (NASDAQ:CFLT) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,577 shares of the company’s stock after selling 2,158 shares during the period. KBC Group NV’s holdings in Confluent were worth $317,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in shares of Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after purchasing an additional 857 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares in the last quarter. Fulton Bank N.A. raised its holdings in shares of Confluent by 15.0% in the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after purchasing an additional 1,064 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Confluent by 9.6% during the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research note on Tuesday, October 29th. Truist Financial reiterated a “buy” rating and set a $30.00 target price (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Stifel Nicolaus reduced their price target on shares of Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group lowered their price objective on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Confluent Trading Up 2.8 %

Confluent stock opened at $28.29 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The stock has a market cap of $9.28 billion, a P/E ratio of -25.49 and a beta of 0.82. The firm’s fifty day moving average price is $22.72 and its 200-day moving average price is $24.55.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Equities research analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In related news, Director Michelangelo Volpi sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the transaction, the director now directly owns 280,200 shares of the company’s stock, valued at approximately $7,262,784. This trade represents a 15.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. This represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,308,766 shares of company stock worth $90,381,635 over the last three months. 13.82% of the stock is owned by insiders.

Confluent 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.