Fuller & Thaler Asset Management Inc. Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Fuller & Thaler Asset Management Inc. bought a new position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,312,506 shares of the company's stock, valued at approximately $64,658,000. Fuller & Thaler Asset Management Inc. owned approximately 0.71% of Confluent at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Confluent by 354.0% during 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. bought a new stake in shares of Confluent during the fourth quarter worth $59,000. GAMMA Investing LLC grew its stake in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after buying an additional 1,136 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Confluent by 22,112.5% during the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after buying an additional 3,538 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Confluent by 48.4% in the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock valued at $138,000 after acquiring an additional 1,613 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Buying and Selling at Confluent

In related news, CFO Rohan Sivaram sold 68,350 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erica Schultz sold 150,000 shares of the firm'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 sale, the insider now directly owns 678,016 shares of the company's stock, valued at $24,286,533.12. This represents a 18.12 % 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 over the last three months. 13.82% of the stock is currently owned by insiders.

Confluent Stock Performance

Shares of CFLT traded down $0.04 on Monday, reaching $24.09. 3,412,388 shares of the company's stock traded hands, compared to its average volume of 4,515,051. The stock's 50 day simple moving average is $25.39 and its two-hundred day simple moving average is $27.45. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The stock has a market cap of $8.05 billion, a PE ratio of -22.31 and a beta of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last released 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 return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CFLT shares. Canaccord Genuity Group upped their target price on Confluent from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley lowered their price objective on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada lifted their target price on shares of Confluent from $36.00 to $41.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a report on Wednesday, February 12th. Finally, UBS Group upgraded shares of Confluent from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $34.00 to $38.00 in a report on Wednesday, February 26th. One equities research 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $33.39.

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.