Greenwich Wealth Management LLC Lowers Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Greenwich Wealth Management LLC reduced its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,670 shares of the company's stock after selling 29,527 shares during the quarter. Greenwich Wealth Management LLC's holdings in Confluent were worth $634,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in 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 buying an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Confluent during the 4th quarter worth $59,000. GAMMA Investing LLC grew its holdings in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after purchasing an additional 1,136 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Confluent during the 3rd quarter worth $68,000. Finally, AlphaQuest LLC grew its holdings in shares of Confluent by 22,112.5% during 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 during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $13,285,047.68. This trade represents a 33.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $29.47, for a total value of $1,878,093.63. Following the completion of the transaction, the insider now owns 502,424 shares in the company, valued at $14,806,435.28. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,201,518 shares of company stock worth $38,533,306 in the last quarter. 13.82% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of research firms have recently weighed in on CFLT. Evercore ISI increased their price target on Confluent from $32.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. 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, February 12th. 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, February 12th. Wells Fargo & Company increased their price target on Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their price target on Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.33.

Confluent Stock Down 2.3 %

Shares of NASDAQ CFLT traded down $0.63 during midday trading on Thursday, hitting $26.62. 3,149,213 shares of the company's stock were exchanged, compared to its average volume of 4,291,916. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The company has a market cap of $8.89 billion, a PE ratio of -24.65 and a beta of 0.90. The firm's fifty day simple moving average is $29.53 and its 200-day simple moving average is $26.90.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Research analysts predict that Confluent, Inc. will post -0.83 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.