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% in the 4th quarter, Holdings Channel.com reports. The firm owned 125,825 shares of the company’s stock after selling 11,673 shares during the period. Stanley Laman Group Ltd.’s holdings in Confluent were worth $3,518,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent in the third quarter worth approximately $68,000. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 1,136 shares during the period. Pacer Advisors Inc. raised its holdings in shares of 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 buying an additional 1,619 shares during the period. Finally, DMC Group LLC purchased a new stake in shares of Confluent in the fourth quarter worth approximately $201,000. 78.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CFLT. Piper Sandler increased their price target on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday. Canaccord Genuity Group increased their price target on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. Scotiabank increased their price target on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Barclays raised their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Confluent Stock Performance

Shares of CFLT opened at $37.65 on Thursday. The stock has a 50-day moving average of $29.58 and a two-hundred day moving average of $25.37. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market cap of $12.35 billion, a P/E ratio of -33.92 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, research analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other news, Director Matthew Craig Miller sold 53,512 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $33.64, for a total value of $1,800,143.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the completion of the transaction, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. This trade represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,508,636 shares of company stock valued at $47,198,798. 13.82% of the stock is owned by company 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.