California Public Employees Retirement System Sells 33,599 Shares of Confluent, Inc. (NASDAQ:CFLT)

California Public Employees Retirement System trimmed its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 281,463 shares of the company's stock after selling 33,599 shares during the quarter. California Public Employees Retirement System owned approximately 0.09% of Confluent worth $7,870,000 as of its most recent SEC filing.

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

Insider Transactions at Confluent

In other Confluent news, Director Michelangelo Volpi sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the completion of the transaction, the director now owns 292,079 shares of the company's stock, valued at $10,579,101.38. This represents a 7.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rohan Sivaram sold 68,350 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares of the company's stock, valued at $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,200,746 shares of company stock worth $38,505,150 in the last 90 days. 13.82% of the stock is owned by insiders.

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Confluent Stock Up 1.4 %

Shares of CFLT stock traded up $0.29 on Friday, reaching $21.51. 4,840,987 shares of the company's stock traded hands, compared to its average volume of 4,493,473. The business's 50 day moving average price is $27.64 and its two-hundred day moving average price is $27.28. The company has a market capitalization of $7.18 billion, a P/E ratio of -19.92 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CFLT. Guggenheim lifted their price objective on Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Raymond James started coverage on shares of Confluent in a research report on Friday. They set an "outperform" rating and a $30.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of Confluent in a research note on Friday, March 7th. Mizuho increased their price objective on shares of Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.96.

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.