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

Greenwich Wealth Management LLC lowered its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 56.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,670 shares of the company’s stock after selling 29,527 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Confluent were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Confluent in the 4th quarter valued at $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent in the third quarter worth $68,000. GAMMA Investing LLC increased its position in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Finally, AlphaQuest LLC increased its holdings in Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after purchasing an additional 3,538 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Activity at Confluent

In other news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $14,628,937.04. The trade was a 33.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,201,518 shares of company stock worth $38,533,306. 13.82% of the stock is owned by company insiders.

Confluent Stock Performance

NASDAQ CFLT opened at $26.36 on Friday. The company’s 50 day moving average is $29.66 and its 200-day moving average is $26.77. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The firm has a market cap of $8.80 billion, a P/E ratio of -24.41 and a beta of 0.89.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus increased their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Bank of America raised their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. Truist Financial upped their price objective on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Confluent in a research note on Friday, March 7th. Finally, Guggenheim increased their target price on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

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.