GMT Capital Corp Trims Position in Confluent, Inc. (NASDAQ:CFLT)

GMT Capital Corp reduced its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 383,300 shares of the company's stock after selling 41,800 shares during the period. Confluent comprises approximately 0.5% of GMT Capital Corp's holdings, making the stock its 23rd biggest holding. GMT Capital Corp owned 0.12% of Confluent worth $10,717,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CFLT. M&T Bank Corp grew its position in shares of Confluent by 12.3% in the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after purchasing an additional 2,367 shares during the period. Friedenthal Financial acquired a new stake in Confluent in the 4th quarter worth about $758,000. Victory Capital Management Inc. boosted its stake in Confluent by 135.7% in the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after buying an additional 373,682 shares during the last quarter. Truist Financial Corp grew its holdings in Confluent by 2.5% in the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after buying an additional 514 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new position in shares of Confluent during the 4th quarter valued at about $252,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Trading Up 1.2 %

Confluent stock opened at $20.64 on Wednesday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The firm's 50-day moving average is $26.10 and its 200-day moving average is $27.36. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The company has a market cap of $6.89 billion, a P/E ratio of -19.11 and a beta of 1.03.

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

Wall Street Analyst Weigh In

CFLT has been the subject of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on shares of Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Barclays lowered their price objective on shares of Confluent from $37.00 to $29.00 and set an "overweight" rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 target price on shares of Confluent in a research report on Friday, March 7th. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, UBS Group upgraded Confluent from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $38.00 in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.07.

Insider Buying and Selling

In other news, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now owns 520,273 shares of the company's stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Kong Phan sold 6,346 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $229,852.12. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,200,746 shares of company stock worth $38,505,150 in the last three months. 13.82% of the stock is owned by insiders.

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.

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