Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Greenwich Wealth Management LLC

Greenwich Wealth Management LLC lowered its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 56.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,670 shares of the company’s stock after selling 29,527 shares during the period. Greenwich Wealth Management LLC’s holdings in Confluent were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CFLT. Commonwealth Equity Services LLC raised its holdings in Confluent by 4.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after purchasing an additional 458 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the last quarter. Truist Financial Corp grew its holdings in Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares during the last quarter. GAMMA Investing LLC grew its stake in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Confluent by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock valued at $472,000 after acquiring an additional 1,137 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Confluent news, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Erica Schultz sold 150,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00. Following the completion of the sale, the insider now directly owns 678,016 shares in the company, valued at $24,286,533.12. This represents a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,201,518 shares of company stock valued at $38,533,306 over the last 90 days. 13.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

CFLT has been the topic of a number of analyst reports. Wells Fargo & Company increased their target price on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Confluent in a research note on Friday, March 7th. Royal Bank of Canada raised their price target on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley raised their target price on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Stock Performance

Shares of CFLT opened at $26.36 on Friday. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of -24.41 and a beta of 0.89. The business’s 50 day moving average is $29.66 and its two-hundred day moving average is $26.77. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Analysts forecast that Confluent, Inc. will post -0.83 EPS 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.