Stanley Laman Group Ltd. Sells 11,673 Shares of Confluent, Inc. (NASDAQ:CFLT)

Stanley Laman Group Ltd. trimmed its stake in Confluent, Inc. (NASDAQ:CFLT) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,825 shares of the company’s stock after selling 11,673 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Confluent were worth $3,518,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CFLT. Blue Trust Inc. boosted its holdings in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Confluent in the third quarter worth $68,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 1,136 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after acquiring an additional 1,619 shares in the last quarter. Finally, DMC Group LLC bought a new stake in Confluent in the fourth quarter worth $201,000. 78.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Kong Phan sold 3,947 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now directly owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chad Verbowski sold 13,414 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the transaction, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. The trade was a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,508,636 shares of company stock worth $47,198,798. 13.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley upped their price target on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. Canaccord Genuity Group upped their price target on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group upped their price target on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho upped their price target on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Guggenheim upped their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Confluent Stock Performance

NASDAQ:CFLT opened at $37.65 on Thursday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock has a 50-day moving average price of $29.58 and a 200 day moving average price of $25.37. The stock has a market capitalization of $12.35 billion, a P/E ratio of -33.92 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its 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 return on equity of 34.05% and a negative net margin of 38.35%. Equities research analysts forecast that Confluent, Inc. will post -0.9 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.