Swiss National Bank Purchases 11,400 Shares of Confluent, Inc. (NASDAQ:CFLT)

Swiss National Bank lifted its position in Confluent, Inc. (NASDAQ:CFLT) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 467,300 shares of the company’s stock after purchasing an additional 11,400 shares during the quarter. Swiss National Bank’s holdings in Confluent were worth $13,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Champlain Investment Partners LLC increased its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares in the last quarter. Atreides Management LP grew its position in shares of Confluent by 7.3% during the third quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after purchasing an additional 184,865 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock valued at $51,224,000 after purchasing an additional 802,353 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Confluent by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company’s stock worth $65,860,000 after purchasing an additional 71,454 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors.

Insider Activity at Confluent

In related news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,201,518 shares of company stock worth $38,533,306. Company insiders own 13.82% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of a number of research analyst reports. Loop Capital cut their price objective on shares of Confluent from $34.00 to $30.00 and set a “hold” rating for the company in a report on Monday, March 10th. William Blair reaffirmed an “outperform” rating on shares of Confluent in a research note on Monday. Scotiabank boosted their price target on shares of Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on 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 lifted their target price on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Stock Up 3.4 %

NASDAQ:CFLT opened at $27.25 on Thursday. The company has a market cap of $9.10 billion, a price-to-earnings ratio of -25.23 and a beta of 0.90. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $29.53 and a 200-day simple moving average of $26.90.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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 anticipate that Confluent, Inc. will post -0.83 EPS for the current 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.