Confluent, Inc. (NASDAQ:CFLT) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,409,872 shares of the company's stock after acquiring an additional 84,163 shares during the quarter. Geode Capital Management LLC owned 1.34% of Confluent worth $123,339,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CFLT. Blue Trust Inc. increased its holdings in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Confluent in the fourth quarter worth $59,000. GAMMA Investing LLC raised its position in shares of Confluent by 85.3% during the 4th 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 during the period. AlphaQuest LLC boosted its holdings in Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after buying an additional 3,538 shares during the period. Finally, IFP Advisors Inc lifted its position in shares of Confluent by 48.4% in the fourth 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 in the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Activity

In related news, insider Erica Schultz sold 150,000 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.82, for a total value of $5,373,000.00. Following the sale, the insider now owns 678,016 shares of the company's stock, valued at $24,286,533.12. This trade represents a 18.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $905,500.00. Following the sale, the director now directly owns 292,079 shares of the company's stock, valued at approximately $10,579,101.38. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is currently owned by company insiders.

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Confluent Trading Up 1.6 %

NASDAQ CFLT traded up $0.34 during trading hours on Monday, reaching $21.85. The company had a trading volume of 257,297 shares, compared to its average volume of 4,484,744. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The stock has a market capitalization of $7.30 billion, a P/E ratio of -20.23 and a beta of 1.03. The stock has a 50-day moving average of $27.64 and a 200 day moving average of $27.34. 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 (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 net margin of 35.81% and a negative return on equity of 34.70%. As a group, research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on CFLT. Bank of America raised their target price on shares of Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research note on Wednesday, February 12th. Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of Confluent in a report on Friday, March 7th. Stifel Nicolaus raised their target price on shares of Confluent from $37.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Guggenheim increased their price target on shares of Confluent from $35.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Confluent presently has a consensus rating of "Moderate Buy" and an average price target of $34.96.

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.