M&T Bank Corp Has $527,000 Stake in Confluent, Inc. (NASDAQ:CFLT)

M&T Bank Corp raised its stake in Confluent, Inc. (NASDAQ:CFLT) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,496 shares of the company’s stock after purchasing an additional 956 shares during the period. M&T Bank Corp’s holdings in Confluent were worth $527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaQuest LLC grew its position in Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock worth $99,000 after purchasing an additional 3,538 shares in the last quarter. Swiss National Bank lifted its stake in Confluent by 2.5% in the 4th quarter. Swiss National Bank now owns 467,300 shares of the company’s stock worth $13,066,000 after purchasing an additional 11,400 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Confluent during the 4th quarter valued at $5,116,000. Commonwealth Equity Services LLC raised its position in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Confluent by 6.3% during the 4th quarter. Xponance Inc. now owns 33,144 shares of the company’s stock valued at $927,000 after purchasing an additional 1,962 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James Financial assumed coverage on shares of Confluent in a report on Friday, April 11th. They issued an “outperform” rating and a $30.00 price target on the stock. Truist Financial lowered their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Loop Capital decreased their target price on shares of Confluent from $30.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Robert W. Baird decreased their price objective on shares of Confluent from $37.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI cut their target price on shares of Confluent from $29.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average price target of $30.19.

Confluent Price Performance

Confluent stock opened at $24.92 on Thursday. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The company has a market cap of $8.48 billion, a price-to-earnings ratio of -25.43 and a beta of 0.99. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 1.07. The firm’s fifty day moving average is $23.66 and its 200 day moving average is $25.66.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. Confluent had a negative net margin of 31.42% and a negative return on equity of 29.92%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Activity at Confluent

In other news, Director Neha Narkhede sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $19.96, for a total value of $1,197,600.00. Following the sale, the director directly owned 20,247 shares in the company, valued at approximately $404,130.12. This trade represents a 74.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 27,710 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $21.83, for a total transaction of $604,909.30. Following the completion of the transaction, the chief financial officer directly owned 673,693 shares of the company’s stock, valued at $14,706,718.19. The trade was a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 546,669 shares of company stock worth $12,637,193 over the last quarter. Corporate insiders own 9.20% of the company’s stock.

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.