Charles Schwab Investment Management Inc. Acquires 71,454 Shares of Confluent, Inc. (NASDAQ:CFLT)

Charles Schwab Investment Management Inc. lifted its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,355,491 shares of the company's stock after acquiring an additional 71,454 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.72% of Confluent worth $65,860,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quantbot Technologies LP lifted its holdings in shares of Confluent by 1,465.6% in the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company's stock worth $617,000 after acquiring an additional 28,360 shares during the last quarter. Pathway Capital Management LP bought a new stake in shares of Confluent in the 3rd quarter worth approximately $918,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Confluent by 152.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company's stock worth $1,398,000 after acquiring an additional 41,431 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Confluent in the 3rd quarter worth approximately $868,000. Finally, Friedenthal Financial bought a new stake in shares of Confluent in the 4th quarter worth approximately $758,000. 78.09% of the stock is currently owned by institutional investors.

Insider Activity at Confluent

In other news, Director Lara Caimi sold 34,500 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.32, for a total value of $1,080,540.00. Following the completion of the transaction, the director now owns 7,160 shares in the company, valued at $224,251.20. The trade was a 82.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Erica Schultz sold 150,000 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00. Following the completion of the transaction, the insider now owns 678,016 shares of the company's stock, valued at $24,286,533.12. This represents a 18.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,248,478 shares of company stock valued at $40,003,844. 13.82% of the stock is owned by corporate insiders.

Confluent Stock Up 4.5 %

NASDAQ:CFLT opened at $25.50 on Wednesday. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The firm's 50-day moving average price is $29.80 and its 200-day moving average price is $26.71. The company has a market capitalization of $8.52 billion, a PE ratio of -23.61 and a beta of 0.89. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

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Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results 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%. On average, equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 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 report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Confluent from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Bank of America upped their price target on shares of Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a report on Wednesday, February 12th. UBS Group upgraded shares of Confluent from a "neutral" rating to a "buy" rating and upped their price target for the company from $34.00 to $38.00 in a report on Wednesday, February 26th. Finally, Piper Sandler upped their price target on shares of Confluent from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.33.

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.

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