Confluent, Inc. $CFLT Shares Sold by Diversified Trust Co.

Diversified Trust Co. trimmed its position in Confluent, Inc. (NASDAQ:CFLT) by 23.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,035 shares of the company’s stock after selling 26,334 shares during the period. Diversified Trust Co.’s holdings in Confluent were worth $2,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CFLT. Quarry LP acquired a new position in shares of Confluent in the 3rd quarter worth approximately $26,000. Danske Bank A S bought a new stake in shares of Confluent in the 3rd quarter valued at approximately $34,000. True Wealth Design LLC acquired a new stake in shares of Confluent during the 3rd quarter valued at approximately $36,000. Ramirez Asset Management Inc. acquired a new stake in shares of Confluent during the 3rd quarter valued at approximately $40,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Confluent during the second quarter worth $49,000. 78.09% of the stock is owned by institutional investors.

Confluent Stock Performance

CFLT stock opened at $30.99 on Wednesday. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $31.00. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of -36.03 and a beta of 0.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83. The stock’s fifty day moving average is $30.65 and its two-hundred day moving average is $26.51.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $314.82 million during the quarter, compared to analyst estimates of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, research analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Confluent

In other news, Director Neha Narkhede sold 80,000 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.59, for a total transaction of $2,447,200.00. Following the completion of the transaction, the director directly owned 28,549 shares in the company, valued at approximately $873,313.91. The trade was a 73.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward Jay Kreps sold 270,207 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $30.70, for a total value of $8,295,354.90. Following the completion of the transaction, the chief executive officer directly owned 301,660 shares of the company’s stock, valued at $9,260,962. This trade represents a 47.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 525,929 shares of company stock worth $16,124,278 in the last quarter. 9.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CFLT shares. Needham & Company LLC downgraded shares of Confluent from a “buy” rating to a “hold” rating in a report on Monday, December 8th. Citigroup increased their target price on shares of Confluent from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 9th. Mizuho downgraded shares of Confluent from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Robert W. Baird lifted their price target on shares of Confluent from $26.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 9th. Finally, Citizens Jmp downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.71.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.