SG Americas Securities LLC Has $531,000 Stake in Confluent, Inc. (NASDAQ:CFLT)

SG Americas Securities LLC decreased its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 42.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,704 shares of the company’s stock after selling 16,818 shares during the period. SG Americas Securities LLC’s holdings in Confluent were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CFLT. Advisors Asset Management Inc. acquired a new position in Confluent during the 1st quarter worth $30,000. UniSuper Management Pty Ltd acquired a new position in shares of Confluent during the third quarter valued at about $36,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Confluent during the first quarter valued at about $42,000. Geneos Wealth Management Inc. acquired a new position in shares of Confluent during the first quarter valued at about $43,000. Finally, American International Group Inc. acquired a new position in shares of Confluent during the second quarter valued at about $45,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Trading Down 1.0 %

Shares of NASDAQ CFLT opened at $29.27 on Friday. The company’s 50 day simple moving average is $30.51 and its 200 day simple moving average is $26.50. Confluent, Inc. has a fifty-two week low of $14.69 and a fifty-two week high of $41.22. The firm has a market capitalization of $9.15 billion, a P/E ratio of -19.91 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.62 and a quick ratio of 4.62.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $204.62 million. On average, analysts predict that Confluent, Inc. will post -0.92 EPS for the current year.

Insider Activity at Confluent

In other Confluent news, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.15, for a total value of $132,104.35. Following the sale, the chief accounting officer now directly owns 123,497 shares in the company, valued at $3,970,428.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $32.46, for a total transaction of $7,546,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Ying Christina Liu sold 4,109 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total transaction of $132,104.35. Following the sale, the chief accounting officer now directly owns 123,497 shares of the company’s stock, valued at approximately $3,970,428.55. The disclosure for this sale can be found here. Insiders have sold 1,433,170 shares of company stock worth $46,438,029 over the last ninety days. Company insiders own 22.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CFLT. JPMorgan Chase & Co. upped their price objective on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Barclays upped their target price on shares of Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Royal Bank of Canada upped their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus assumed coverage on shares of Confluent in a research note on Wednesday, February 21st. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on shares of Confluent from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.72.

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.