Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd decreased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 89.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,015 shares of the company's stock after selling 111,386 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Confluent were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CFLT. Hel Ved Capital Management Ltd raised its position in shares of Confluent by 314.8% during the 4th quarter. Hel Ved Capital Management Ltd now owns 119,802 shares of the company's stock valued at $3,350,000 after purchasing an additional 90,920 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Confluent during the 4th quarter valued at approximately $1,409,000. Resolute Advisors LLC bought a new position in Confluent during the fourth quarter valued at $273,000. ExodusPoint Capital Management LP bought a new position in Confluent during the 4th quarter valued at about $6,892,000. Finally, Trexquant Investment LP grew its stake in shares of Confluent by 4,111.5% during the fourth quarter. Trexquant Investment LP now owns 652,193 shares of the company's stock valued at $18,235,000 after buying an additional 636,707 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on shares of Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Confluent from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Bank of America raised their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Loop Capital reduced their price objective on Confluent from $34.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $34.96.

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Confluent Stock Performance

Confluent stock traded up $0.12 during mid-day trading on Tuesday, reaching $21.62. 798,617 shares of the company traded hands, compared to its average volume of 4,479,543. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of -20.02 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. The firm's fifty day moving average is $27.48 and its two-hundred day moving average is $27.35.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates 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 research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Kong Phan sold 6,346 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $229,852.12. Following the completion of the transaction, the chief accounting officer now owns 179,593 shares of the company's stock, valued at approximately $6,504,858.46. This represents a 3.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. Company insiders own 13.82% of the company's stock.

About Confluent

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.