Greenwich Wealth Management LLC Acquires 26,073 Shares of Confluent, Inc. (NASDAQ:CFLT)

Greenwich Wealth Management LLC lifted its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 57.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,307 shares of the company’s stock after purchasing an additional 26,073 shares during the period. Greenwich Wealth Management LLC’s holdings in Confluent were worth $1,669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CFLT. Vanguard Group Inc. boosted its holdings in Confluent by 13.0% in the third quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock worth $545,546,000 after acquiring an additional 2,125,843 shares in the last quarter. Altimeter Capital Management LP boosted its holdings in Confluent by 11.5% in the first quarter. Altimeter Capital Management LP now owns 14,491,817 shares of the company’s stock worth $348,818,000 after acquiring an additional 1,496,443 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Confluent by 18.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,476,920 shares of the company’s stock worth $300,320,000 after acquiring an additional 1,938,668 shares in the last quarter. BlackRock Inc. boosted its holdings in Confluent by 1.0% in the third quarter. BlackRock Inc. now owns 8,189,217 shares of the company’s stock worth $194,656,000 after acquiring an additional 78,339 shares in the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Confluent by 6.8% in the first quarter. Durable Capital Partners LP now owns 7,329,173 shares of the company’s stock worth $300,496,000 after acquiring an additional 465,214 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Activity

In other Confluent news, insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the transaction, the insider now owns 479,537 shares in the company, valued at approximately $15,225,299.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.75, for a total transaction of $2,023,395.75. Following the sale, the insider now owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Stephanie Buscemi sold 2,724 shares of the stock in a transaction that occurred 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 owns 109,002 shares in the company, valued at $3,504,414.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,433,170 shares of company stock worth $46,438,029. 22.08% of the stock is owned by corporate insiders.

Confluent Stock Performance

Shares of CFLT traded down $0.52 during trading hours on Friday, hitting $26.89. The company’s stock had a trading volume of 3,191,150 shares, compared to its average volume of 2,884,675. The business has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $26.38. Confluent, Inc. has a 52-week low of $14.69 and a 52-week high of $41.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62. The company has a market cap of $8.41 billion, a price-to-earnings ratio of -18.29 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share 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 business had revenue of $213.18 million during the quarter, compared to analysts’ expectations of $204.62 million. On average, equities analysts expect that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

CFLT has been the topic of several recent research reports. Royal Bank of Canada increased their price target on Confluent from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Mizuho lowered their price objective on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 15th. UBS Group increased their price objective on Confluent from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Wells Fargo & Company increased their price objective on Confluent from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, DA Davidson reissued a “buy” rating and issued a $37.00 price objective on shares of Confluent in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.64.

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.