AtonRa Partners Sells 1,917 Shares of Confluent, Inc. (NASDAQ:CFLT)

AtonRa Partners cut its stake in Confluent, Inc. (NASDAQ:CFLT) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,265 shares of the company’s stock after selling 1,917 shares during the period. AtonRa Partners’ holdings in Confluent were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CFLT. Vanguard Group Inc. lifted its holdings in Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after buying an additional 2,125,843 shares during the period. Invesco Ltd. increased its holdings in shares of Confluent by 14.0% during the third quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock valued at $113,230,000 after acquiring an additional 470,002 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Confluent by 82.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,826,876 shares of the company’s stock worth $54,094,000 after purchasing an additional 824,436 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Confluent in the 4th quarter valued at $29,833,000. Finally, Bank of New York Mellon Corp grew its position in Confluent by 1.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,071,263 shares of the company’s stock valued at $31,720,000 after purchasing an additional 15,944 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insiders Place Their Bets

In other Confluent news, CTO Chad Verbowski sold 8,086 shares of Confluent stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the transaction, the chief technology officer now owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Confluent news, CTO Chad Verbowski sold 8,086 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total value of $252,283.20. Following the sale, the chief technology officer now directly owns 532,072 shares in the company, valued at approximately $16,600,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michelangelo Volpi sold 637,268 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the transaction, the director now owns 302,306 shares of the company’s stock, valued at $9,592,169.38. The disclosure for this sale can be found here. Insiders sold a total of 1,433,170 shares of company stock worth $46,438,029 in the last quarter. 22.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CFLT. Mizuho lowered their target price on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Needham & Company LLC increased their price objective on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. The Goldman Sachs Group lifted their target price on Confluent from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. UBS Group raised their price objective on Confluent from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada upped their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.64.

Confluent Stock Down 0.4 %

Shares of CFLT stock traded down $0.11 on Tuesday, hitting $28.75. 533,913 shares of the stock were exchanged, compared to its average volume of 4,808,437. The firm’s 50 day moving average is $30.82 and its two-hundred day moving average is $26.31. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. On average, equities analysts expect that Confluent, Inc. will post -0.92 earnings per share for the current year.

About Confluent

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.