Diversified Trust Co Has $2.06 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Diversified Trust Co increased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 21.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 73,529 shares of the company’s stock after purchasing an additional 13,026 shares during the quarter. Diversified Trust Co’s holdings in Confluent were worth $2,056,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sycomore Asset Management grew its holdings in shares of Confluent by 308.3% during the second quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock worth $9,176,000 after buying an additional 251,507 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after acquiring an additional 28,360 shares in the last quarter. Pathway Capital Management LP acquired a new stake in shares of Confluent in the third quarter valued at approximately $918,000. Charles Schwab Investment Management Inc. lifted its position in shares of Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after purchasing an additional 64,926 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock worth $9,022,000 after purchasing an additional 68,880 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CFLT has been the subject of several analyst reports. Citigroup raised their price objective on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Scotiabank raised their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Mizuho upped their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus raised their target price on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Truist Financial upped their price target on shares of Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and an average price target of $32.46.

Confluent Stock Down 3.5 %

Shares of NASDAQ:CFLT opened at $28.80 on Wednesday. The firm has a fifty day moving average price of $29.41 and a two-hundred day moving average price of $24.96. The company has a market cap of $9.45 billion, a price-to-earnings ratio of -25.95 and a beta of 0.91. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at Confluent

In other news, CAO Kong Phan sold 2,096 shares of Confluent stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08. Following the completion of the sale, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. The trade was a 1.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Stephanie Buscemi sold 164,123 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $26.24, for a total value of $4,306,587.52. Following the completion of the transaction, the chief marketing officer now directly owns 149,644 shares in the company, valued at approximately $3,926,658.56. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,584,712 shares of company stock valued at $132,928,936. 13.82% of the stock is owned by corporate insiders.

About Confluent

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.