Pursue Wealth Partners LLC Sells 75,434 Shares of Confluent, Inc. (NASDAQ:CFLT)

Pursue Wealth Partners LLC reduced its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 35.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,767 shares of the company's stock after selling 75,434 shares during the quarter. Confluent accounts for approximately 1.6% of Pursue Wealth Partners LLC's investment portfolio, making the stock its 20th biggest holding. Pursue Wealth Partners LLC's holdings in Confluent were worth $2,848,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CFLT. Diversified Trust Co increased its position in shares of Confluent by 110.3% in the third quarter. Diversified Trust Co now owns 60,503 shares of the company's stock worth $1,233,000 after purchasing an additional 31,729 shares during the period. Sycomore Asset Management increased its holdings in Confluent by 308.3% in the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company's stock valued at $9,176,000 after buying an additional 251,507 shares during the period. Sei Investments Co. raised its position in shares of Confluent by 29.1% in the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company's stock valued at $9,022,000 after buying an additional 68,880 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of Confluent during the 1st quarter worth approximately $1,181,000. Finally, Creative Planning boosted its position in shares of Confluent by 109.9% during the 3rd 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. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Price Performance

Shares of NASDAQ CFLT traded up $0.05 during midday trading on Friday, hitting $26.22. 6,430,211 shares of the company's stock were exchanged, compared to its average volume of 4,354,964. The business's fifty day moving average price is $21.04 and its two-hundred day moving average price is $24.67. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -23.62 and a beta of 0.88. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $35.07.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to analysts' expectations of $243.98 million. As a group, research analysts forecast that Confluent, Inc. will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Stephanie Buscemi sold 3,866 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at $3,505,070.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company's stock, valued at approximately $9,561,071.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now directly owns 161,673 shares of the company's stock, valued at approximately $3,505,070.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 524,453 shares of company stock valued at $10,833,388 over the last three months. Insiders own 13.82% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CFLT. Deutsche Bank Aktiengesellschaft dropped their price target on Confluent from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Thursday, August 1st. Sanford C. Bernstein dropped their target price on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Mizuho increased their target price on shares of Confluent from $29.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday. Baird R W upgraded Confluent to a "hold" rating in a report on Wednesday, September 4th. Finally, DA Davidson reissued a "buy" rating and issued a $30.00 price objective on shares of Confluent in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Confluent presently has a consensus rating of "Moderate Buy" and an average target price of $30.28.

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.