Blair William & Co. IL Has $858,000 Stake in Confluent, Inc. (NASDAQ:CFLT)

Blair William & Co. IL lowered its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 54.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,685 shares of the company's stock after selling 36,293 shares during the period. Blair William & Co. IL's holdings in Confluent were worth $858,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CFLT. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after acquiring an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Confluent in the 4th quarter valued at $59,000. GAMMA Investing LLC increased its holdings in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after acquiring an additional 1,136 shares during the last quarter. AlphaQuest LLC raised its position in shares of Confluent by 22,112.5% during the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after acquiring an additional 3,538 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock worth $138,000 after purchasing an additional 1,613 shares during the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company's stock, valued at approximately $14,628,937.04. The trade was a 33.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Kong Phan sold 3,175 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the completion of the sale, the chief accounting officer now directly owns 246,516 shares in the company, valued at $6,621,419.76. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

CFLT has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Confluent from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Evercore ISI upped their price target on shares of Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Stifel Nicolaus increased their target price on shares of Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. UBS Group upgraded Confluent from a "neutral" rating to a "buy" rating and boosted their price target for the company from $34.00 to $38.00 in a research report on Wednesday, February 26th. Finally, Bank of America lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and an average target price of $35.15.

Confluent Price Performance

Shares of NASDAQ:CFLT traded down $0.71 on Tuesday, reaching $19.68. 6,050,398 shares of the company traded hands, compared to its average volume of 4,448,408. The company's 50 day moving average is $28.21 and its 200-day moving average is $27.27. The stock has a market capitalization of $6.57 billion, a PE ratio of -18.22 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

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.