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

Stanley Laman Group Ltd. cut its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock worth $218,083,000 after acquiring an additional 4,486,841 shares during the period. Fiera Capital Corp bought a new position in shares of Confluent during the 3rd quarter worth approximately $21,127,000. Jacobs Levy Equity Management Inc. boosted its stake in Confluent by 46.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company's stock valued at $51,224,000 after buying an additional 802,353 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Confluent in the 4th quarter valued at $10,607,000. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of Confluent in the 3rd quarter worth about $7,646,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Stock Performance

NASDAQ CFLT traded down $1.38 on Monday, reaching $34.85. The stock had a trading volume of 7,010,332 shares, compared to its average volume of 4,016,620. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The company has a market cap of $11.43 billion, a P/E ratio of -31.40 and a beta of 0.92. The firm has a fifty day moving average of $29.67 and a two-hundred day moving average of $25.53. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released 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%. On average, equities research analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler increased their price target on Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. TD Cowen upped their target price on shares of Confluent from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. JMP Securities restated a "market outperform" rating and issued a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. Royal Bank of Canada upped their price objective on Confluent from $36.00 to $41.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Robert W. Baird lifted their target price on Confluent from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Activity at Confluent

In related news, insider Erica Schultz sold 9,467 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $267,253.41. Following the completion of the sale, the insider now owns 678,016 shares of the company's stock, valued at $19,140,391.68. This represents a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Chad Verbowski sold 13,414 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $378,677.22. Following the completion of the transaction, the chief technology officer now directly owns 483,393 shares in the company, valued at approximately $13,646,184.39. This represents a 2.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,444,907 shares of company stock worth $45,452,624. Company insiders own 13.82% of the company's stock.

Confluent 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.