Bank Julius Baer & Co. Ltd Zurich Has $1.07 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Bank Julius Baer & Co. Ltd Zurich lessened its position in Confluent, Inc. (NASDAQ:CFLTGet Rating) by 25.8% during the third quarter, Holdings Channel reports. The institutional investor owned 44,850 shares of the company’s stock after selling 15,562 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Confluent were worth $1,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CFLT. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Confluent in the 2nd quarter valued at approximately $26,000. Advisors Asset Management Inc. acquired a new position in shares of Confluent during the 1st quarter worth approximately $30,000. US Bancorp DE acquired a new position in shares of Confluent during the 3rd quarter worth approximately $31,000. James Investment Research Inc. increased its position in shares of Confluent by 716.9% during the 2nd quarter. James Investment Research Inc. now owns 1,356 shares of the company’s stock worth $32,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Baldwin Brothers LLC MA acquired a new position in shares of Confluent during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 40.66% of the company’s stock.

Confluent Stock Down 0.8 %

CFLT opened at $23.20 on Wednesday. The business has a fifty day simple moving average of $21.65 and a 200 day simple moving average of $24.44. Confluent, Inc. has a 1 year low of $16.48 and a 1 year high of $81.11. The company has a debt-to-equity ratio of 1.38, a quick ratio of 5.74 and a current ratio of 5.74.

Confluent (NASDAQ:CFLTGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40). The firm had revenue of $151.73 million during the quarter, compared to analysts’ expectations of $144.39 million. Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. Equities analysts anticipate that Confluent, Inc. will post -1.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $22.47, for a total value of $5,224,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Steffan Tomlinson sold 15,393 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $25.00, for a total transaction of $384,825.00. Following the completion of the transaction, the chief financial officer now owns 106,407 shares of the company’s stock, valued at approximately $2,660,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $22.47, for a total value of $5,224,275.00. The disclosure for this sale can be found here. Insiders sold 829,987 shares of company stock valued at $18,552,363 in the last three months. Corporate insiders own 27.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CFLT shares. FBN Securities started coverage on Confluent in a research report on Tuesday, January 17th. They set an “outperform” rating and a $30.00 price target on the stock. Piper Sandler lowered their price target on Confluent from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Cowen reduced their target price on Confluent from $39.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, January 19th. Credit Suisse Group reduced their target price on Confluent from $65.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 3rd. Finally, Barclays upgraded Confluent from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $27.00 to $24.00 in a research note on Tuesday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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Institutional Ownership by Quarter for Confluent (NASDAQ:CFLT)

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