Stanley Laman Group Ltd. Sells 13,019 Shares of Confluent, Inc. (NASDAQ:CFLT)

Stanley Laman Group Ltd. reduced its stake in Confluent, Inc. (NASDAQ:CFLT) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,709 shares of the company’s stock after selling 13,019 shares during the period. Stanley Laman Group Ltd. owned 0.05% of Confluent worth $3,831,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in Confluent in the 4th quarter valued at about $31,000. GAMMA Investing LLC acquired a new position in shares of Confluent during the fourth quarter worth approximately $35,000. UniSuper Management Pty Ltd bought a new position in shares of Confluent in the 3rd quarter worth $36,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Confluent by 56.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company’s stock valued at $81,000 after purchasing an additional 992 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Confluent by 32.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,533 shares of the company’s stock valued at $105,000 after purchasing an additional 864 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CFLT shares. JPMorgan Chase & Co. lifted their price objective on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. DA Davidson restated a “buy” rating and issued a $37.00 target price on shares of Confluent in a report on Monday, April 1st. JMP Securities upped their price target on Confluent from $25.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, February 8th. Scotiabank raised their price objective on Confluent from $22.00 to $28.00 and gave the company a “sector perform” rating in a research note on Thursday, February 8th. Finally, Stifel Nicolaus assumed coverage on shares of Confluent in a research note on Wednesday, February 21st. They issued a “buy” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.64.

Insider Activity

In related news, Director Michelangelo Volpi sold 637,268 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the completion of the sale, the director now directly owns 302,306 shares in the company, valued at approximately $9,592,169.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Confluent news, Director Michelangelo Volpi sold 637,268 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $31.73, for a total transaction of $20,220,513.64. Following the completion of the sale, the director now owns 302,306 shares of the company’s stock, valued at approximately $9,592,169.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Stephanie Buscemi sold 2,724 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $87,576.60. Following the completion of the sale, the chief marketing officer now directly owns 109,002 shares in the company, valued at approximately $3,504,414.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is currently owned by corporate insiders.

Confluent Stock Performance

Shares of CFLT stock traded up $0.01 during trading on Thursday, reaching $28.89. 2,614,543 shares of the company’s stock traded hands, compared to its average volume of 4,896,608. Confluent, Inc. has a 1 year low of $14.69 and a 1 year high of $41.22. The company has a market capitalization of $9.03 billion, a P/E ratio of -19.65 and a beta of 0.91. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average is $31.00 and its 200 day moving average is $26.40.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The company had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Equities research analysts expect that Confluent, Inc. will post -0.92 EPS for the current year.

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.