Bank Julius Baer & Co. Ltd Zurich Trims Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in Confluent, Inc. (NASDAQ:CFLT) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,609 shares of the company’s stock after selling 4,123 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Confluent were worth $1,044,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new position in Confluent during the third quarter valued at approximately $36,000. Rakuten Securities Inc. purchased a new position in Confluent during the fourth quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new position in Confluent during the fourth quarter valued at approximately $35,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Confluent by 56.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company’s stock valued at $81,000 after acquiring an additional 992 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Confluent by 32.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,533 shares of the company’s stock valued at $105,000 after acquiring an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CFLT shares. DA Davidson reaffirmed a “buy” rating and set a $37.00 price objective on shares of Confluent in a research note on Monday, April 1st. Needham & Company LLC boosted their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. The Goldman Sachs Group boosted their price target on shares of Confluent from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Barclays boosted their price target on shares of Confluent from $26.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, UBS Group boosted their price target on shares of Confluent from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus target price of $30.64.

Confluent Price Performance

NASDAQ:CFLT opened at $29.75 on Friday. The company has a fifty day moving average of $30.92 and a 200 day moving average of $26.39. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $41.22. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.34.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) 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 firm had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. On average, equities research analysts predict that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Confluent

In other Confluent news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the transaction, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Confluent news, CAO Ying Christina Liu sold 4,109 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total transaction of $132,104.35. Following the transaction, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $31.20, for a total transaction of $252,283.20. Following the transaction, the chief technology officer now directly owns 532,072 shares in the company, valued at $16,600,646.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is currently owned by company 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.