Confluent, Inc. (NASDAQ:CFLT) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 34.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,619 shares of the company’s stock after acquiring an additional 135,330 shares during the quarter. Federated Hermes Inc. owned about 0.17% of Confluent worth $12,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Avestar Capital LLC lifted its holdings in shares of Confluent by 3.3% during the 3rd quarter. Avestar Capital LLC now owns 11,466 shares of the company’s stock valued at $340,000 after acquiring an additional 370 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Confluent by 1.7% during the 3rd quarter. Xponance Inc. now owns 26,427 shares of the company’s stock valued at $783,000 after acquiring an additional 440 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Confluent by 5.0% during the 4th quarter. Fifth Third Bancorp now owns 11,703 shares of the company’s stock valued at $274,000 after acquiring an additional 556 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Confluent by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 243,828 shares of the company’s stock valued at $7,220,000 after acquiring an additional 629 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Confluent by 6.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 11,300 shares of the company’s stock valued at $264,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Buying and Selling at Confluent

In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.91, for a total transaction of $2,161,050.39. Following the completion of the transaction, the insider now directly owns 706,715 shares of the company’s stock, valued at approximately $23,964,705.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Confluent news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $33.91, for a total transaction of $2,161,050.39. Following the completion of the transaction, the insider now directly owns 706,715 shares of the company’s stock, valued at approximately $23,964,705.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Chad Verbowski sold 8,086 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total transaction of $252,283.20. Following the completion of the sale, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The disclosure for this sale can be found here. Insiders sold 1,433,170 shares of company stock valued at $46,438,029 in the last ninety days. Company insiders own 22.08% of the company’s stock.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $28.53 on Wednesday. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22. The firm has a 50-day simple moving average of $31.20 and a 200 day simple moving average of $26.36. The company has a market cap of $8.92 billion, a PE ratio of -19.41 and a beta of 0.91.

Confluent (NASDAQ:CFLT) last announced 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 for the quarter, compared to the consensus estimate of $204.62 million. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CFLT shares. Barclays lifted their target price on shares of Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Mizuho dropped their price target on shares of Confluent from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Scotiabank lifted their price target on shares of Confluent from $22.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on shares of Confluent from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group lifted 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.