Diversified Trust Co Has $2.06 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Diversified Trust Co increased its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 21.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,529 shares of the company’s stock after acquiring an additional 13,026 shares during the period. Diversified Trust Co’s holdings in Confluent were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CFLT. EP Wealth Advisors LLC lifted its position in shares of Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after buying an additional 503 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the last quarter. Truist Financial Corp increased its stake in shares of Confluent by 5.3% in the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock worth $721,000 after purchasing an additional 1,238 shares during the period. Elo Mutual Pension Insurance Co lifted its position in shares of Confluent by 8.4% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock worth $551,000 after purchasing an additional 1,448 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Confluent by 14.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 13,800 shares of the company’s stock valued at $408,000 after purchasing an additional 1,700 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $29.29, for a total value of $6,809,925.00. Following the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $13,253,373.52. This represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kong Phan sold 2,096 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the transaction, the chief accounting officer now owns 190,680 shares of the company’s stock, valued at $5,382,896.40. The trade was a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,584,712 shares of company stock valued at $132,928,936. 13.82% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CFLT. Scotiabank upped their price target on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Mizuho upped their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Royal Bank of Canada raised their price target on shares of Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Evercore ISI decreased their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued 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 a consensus price target of $32.46.

Confluent Stock Down 3.5 %

Shares of NASDAQ CFLT opened at $28.80 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market cap of $9.45 billion, a price-to-earnings ratio of -25.95 and a beta of 0.91. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The firm’s 50-day simple moving average is $29.41 and its 200 day simple moving average is $24.96.

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

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.