Snowden Capital Advisors LLC Trims Position in Confluent, Inc. (NASDAQ:CFLT)

Snowden Capital Advisors LLC lessened its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,861 shares of the company’s stock after selling 1,625 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Confluent were worth $667,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CFLT. Inspire Investing LLC purchased a new position in shares of Confluent during the 4th quarter worth $1,093,000. Zweig DiMenna Associates LLC purchased a new position in shares of Confluent during the 4th quarter worth $1,146,000. Blue Trust Inc. lifted its stake in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. KBC Group NV lifted its stake in shares of Confluent by 683.8% during the 4th quarter. KBC Group NV now owns 122,090 shares of the company’s stock worth $3,414,000 after purchasing an additional 106,513 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Confluent by 36.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after purchasing an additional 1,619 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Securities reduced their price target on Confluent from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on Confluent from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. DA Davidson cut their target price on Confluent from $42.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JMP Securities cut their target price on Confluent from $40.00 to $36.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their target price on Confluent from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.11.

Insider Transactions at Confluent

In other news, CFO Rohan Sivaram sold 23,605 shares of Confluent stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total transaction of $745,445.90. Following the sale, the chief financial officer now directly owns 497,806 shares of the company’s stock, valued at approximately $15,720,713.48. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $14,628,937.04. This trade represents a 33.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 970,821 shares of company stock valued at $29,036,240. 13.82% of the stock is currently owned by insiders.

Confluent Stock Down 0.2%

Shares of NASDAQ CFLT opened at $21.84 on Wednesday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -20.22 and a beta of 1.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock’s 50-day simple moving average is $22.78 and its 200-day simple moving average is $27.30.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The business had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.