Fiera Capital Corp Has $28.42 Million Stock Position in Confluent, Inc. (NASDAQ:CFLT)

Fiera Capital Corp lowered its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,453 shares of the company's stock after selling 20,204 shares during the period. Fiera Capital Corp owned about 0.31% of Confluent worth $28,420,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new position in shares of Confluent in the second quarter worth approximately $462,000. Creative Planning increased its position in shares of Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company's stock worth $1,935,000 after acquiring an additional 49,699 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of Confluent by 14.0% in the third quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company's stock worth $377,000 after acquiring an additional 2,263 shares in the last quarter. US Bancorp DE increased its position in shares of Confluent by 307.7% in the third quarter. US Bancorp DE now owns 16,702 shares of the company's stock worth $340,000 after acquiring an additional 12,605 shares in the last quarter. Finally, Janney Capital Management LLC grew its position in Confluent by 52.2% during the third quarter. Janney Capital Management LLC now owns 19,946 shares of the company's stock valued at $406,000 after purchasing an additional 6,842 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company's stock.

Confluent Stock Performance

CFLT stock traded down $1.38 on Monday, reaching $34.85. 7,010,332 shares of the company were exchanged, compared to its average volume of 4,016,620. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock's fifty day moving average price is $29.71 and its 200 day moving average price is $25.63. The firm has a market capitalization of $11.43 billion, a PE ratio of -31.40 and a beta of 0.92. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, research analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Confluent news, CTO Chad Verbowski sold 13,414 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the sale, the chief technology officer now owns 483,393 shares of the company's stock, valued at $13,646,184.39. The trade was a 2.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kong Phan sold 3,947 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the sale, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,444,907 shares of company stock valued at $45,452,624. 13.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CFLT shares. Stifel Nicolaus boosted their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Barclays boosted their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price objective 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. UBS Group boosted their price objective on shares of Confluent from $26.00 to $34.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Scotiabank boosted their price objective on shares of Confluent from $27.00 to $35.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

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.