Confluent, Inc. (NASDAQ:CFLT) Stock Position Decreased by TD Asset Management Inc

TD Asset Management Inc lessened its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 18.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,171,400 shares of the company’s stock after selling 264,572 shares during the period. TD Asset Management Inc owned 0.40% of Confluent worth $41,362,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CFLT. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Confluent by 53,625.3% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 27,388,060 shares of the company’s stock valued at $967,072,000 after buying an additional 27,337,082 shares during the last quarter. Atreides Management LP bought a new stake in shares of Confluent during the 1st quarter valued at about $92,207,000. Vanguard Group Inc. grew its position in shares of Confluent by 96.6% during the 1st quarter. Vanguard Group Inc. now owns 5,063,242 shares of the company’s stock valued at $207,593,000 after buying an additional 2,488,471 shares during the last quarter. Altimeter Capital Management LP grew its position in shares of Confluent by 79.9% during the 1st quarter. Altimeter Capital Management LP now owns 5,306,700 shares of the company’s stock valued at $217,575,000 after buying an additional 2,356,700 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Confluent during the 4th quarter valued at about $44,837,000. Institutional investors own 59.30% of the company’s stock.

Insider Buying and Selling

In related news, CMO Stephanie Buscemi sold 3,342 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.14, for a total transaction of $107,411.88. Following the completion of the sale, the chief marketing officer now directly owns 114,177 shares in the company, valued at $3,669,648.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Stephanie Buscemi sold 3,342 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $32.14, for a total value of $107,411.88. Following the completion of the transaction, the chief marketing officer now owns 114,177 shares of the company’s stock, valued at approximately $3,669,648.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan Chadwick sold 16,625 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $33.79, for a total transaction of $561,758.75. Following the completion of the transaction, the director now directly owns 14,203 shares of the company’s stock, valued at approximately $479,919.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 278,527 shares of company stock worth $9,219,094. Corporate insiders own 22.08% of the company’s stock.

Confluent Trading Up 1.2 %

Shares of NASDAQ:CFLT opened at $19.91 on Thursday. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of -12.93 and a beta of 1.03. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $41.22. The company has a debt-to-equity ratio of 1.38, a quick ratio of 4.98 and a current ratio of 4.98. The company has a 50 day moving average price of $27.63 and a 200 day moving average price of $30.63.

Analysts Set New Price Targets

CFLT has been the subject of several recent analyst reports. JMP Securities decreased their target price on shares of Confluent from $41.00 to $25.00 and set a “market outperform” rating for the company in a research report on Friday, November 3rd. Morgan Stanley dropped their price target on shares of Confluent from $40.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Canaccord Genuity Group lowered shares of Confluent from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Thursday, November 2nd. Royal Bank of Canada started coverage on shares of Confluent in a research note on Monday, November 6th. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, Truist Financial dropped their price target on shares of Confluent from $42.00 to $27.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.50.

About Confluent

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