Swiss National Bank Acquires 11,400 Shares of Confluent, Inc. (NASDAQ:CFLT)

Swiss National Bank lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 467,300 shares of the company's stock after buying an additional 11,400 shares during the quarter. Swiss National Bank owned about 0.14% of Confluent worth $13,066,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Rakuten Securities Inc. increased its position in shares of Confluent by 77.7% during the fourth quarter. Rakuten Securities Inc. now owns 7,286 shares of the company's stock worth $204,000 after buying an additional 3,186 shares during the period. Avantax Advisory Services Inc. acquired a new stake in shares of Confluent during the fourth quarter worth $2,042,000. Great Lakes Advisors LLC acquired a new stake in shares of Confluent during the fourth quarter worth $20,061,000. Saturna Capital Corp acquired a new stake in shares of Confluent during the fourth quarter worth $243,000. Finally, AGF Management Ltd. increased its position in shares of Confluent by 17.5% during the fourth quarter. AGF Management Ltd. now owns 413,595 shares of the company's stock worth $11,564,000 after buying an additional 61,707 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Down 0.5 %

Confluent stock traded down $0.12 during midday trading on Friday, hitting $26.50. 4,684,978 shares of the stock were exchanged, compared to its average volume of 4,307,387. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of -24.54 and a beta of 0.90. The business's 50-day moving average price is $29.46 and its 200-day moving average price is $26.98. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

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Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly 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%. On average, research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CFLT. JPMorgan Chase & Co. increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Wells Fargo & Company increased their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on shares of Confluent from $32.00 to $40.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Barclays increased their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Mizuho increased their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $35.33.

Insider Buying and Selling at Confluent

In other Confluent news, insider Erica Schultz sold 150,000 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total value of $5,373,000.00. Following the transaction, the insider now directly owns 678,016 shares in the company, valued at $24,286,533.12. The trade was a 18.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,197,571 shares of company stock worth $38,419,870 over the last three months. 13.82% of the stock is currently owned by insiders.

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.