Vontobel Holding Ltd. Sells 5,929 Shares of Confluent, Inc. (NASDAQ:CFLT)

Vontobel Holding Ltd. decreased its stake in Confluent, Inc. (NASDAQ:CFLT) by 20.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 23,283 shares of the company’s stock after selling 5,929 shares during the quarter. Vontobel Holding Ltd.’s holdings in Confluent were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. SWS Partners purchased a new position in Confluent in the third quarter worth $802,000. Creative Planning lifted its stake in Confluent by 109.9% during the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Confluent by 110.3% in the 3rd quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Confluent by 48.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 67,692 shares of the company’s stock valued at $1,380,000 after purchasing an additional 22,000 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Confluent by 85.0% during the 3rd quarter. SG Americas Securities LLC now owns 85,799 shares of the company’s stock valued at $1,749,000 after buying an additional 39,427 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total value of $4,912,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $9,561,071.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CMO Stephanie Buscemi sold 3,866 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total value of $4,912,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 524,453 shares of company stock worth $10,833,388. 13.82% of the stock is owned by insiders.

Confluent Stock Down 1.2 %

NASDAQ:CFLT opened at $22.17 on Tuesday. 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 firm’s 50-day moving average price is $20.76 and its 200-day moving average price is $25.00. The company has a market capitalization of $7.05 billion, a PE ratio of -17.74 and a beta of 0.88. Confluent, Inc. has a 1-year low of $14.69 and a 1-year 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 analysts’ consensus estimates of ($0.23) by ($0.04). Confluent had a negative return on equity of 37.78% and a negative net margin of 42.70%. The business had revenue of $234.99 million during the quarter, compared to analysts’ expectations of $229.49 million. On average, equities analysts predict that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada cut their price objective on shares of Confluent from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research report on Tuesday, September 24th. Guggenheim restated a “buy” rating and set a $37.00 price target on shares of Confluent in a research report on Tuesday, June 25th. Finally, Canaccord Genuity Group decreased their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. One research 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’s stock. Based on data from MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus price target of $29.79.

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.