Confluent, Inc. (NASDAQ:CFLT) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 445,585 shares of the company's stock after purchasing an additional 50,340 shares during the period. Sei Investments Co. owned about 0.14% of Confluent worth $12,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CFLT. Commonwealth Equity Services LLC lifted its holdings in Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock worth $323,000 after buying an additional 458 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company's stock worth $293,000 after acquiring an additional 503 shares in the last quarter. Truist Financial Corp lifted its stake in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after purchasing an additional 514 shares during the last quarter. GAMMA Investing LLC boosted 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 purchasing an additional 1,136 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Confluent by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company's stock valued at $472,000 after purchasing an additional 1,137 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CFLT shares. William Blair restated an "outperform" rating on shares of Confluent in a research report on Monday, March 17th. Wells Fargo & Company upped their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Bank of America lifted their target price on Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. Guggenheim upped their target price on Confluent from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Piper Sandler lifted their price target on Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.15.

Confluent Price Performance

Shares of CFLT stock traded down $2.91 during midday trading on Thursday, reaching $21.20. 6,326,234 shares of the company traded hands, compared to its average volume of 4,391,778. The firm's 50 day simple moving average is $28.99 and its two-hundred day simple moving average is $27.24. The firm has a market cap of $7.08 billion, a PE ratio of -19.63 and a beta of 0.90. 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 1-year low of $17.79 and a 1-year high of $37.90.

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

Insider Buying and Selling

In other news, Director Michelangelo Volpi sold 25,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 292,079 shares in the company, valued at $10,579,101.38. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now owns 452,488 shares of the company's stock, valued at approximately $14,628,937.04. This represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,200,746 shares of company stock worth $38,505,150 in the last three months. Corporate insiders own 13.82% of the company's stock.

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.