PDT Partners LLC Sells 118,750 Shares of Confluent, Inc. (NASDAQ:CFLT)

PDT Partners LLC lowered its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 53.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,224 shares of the company's stock after selling 118,750 shares during the quarter. PDT Partners LLC's holdings in Confluent were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in Confluent in the 2nd quarter worth about $68,000. Lazard Asset Management LLC grew its position in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company's stock worth $175,000 after purchasing an additional 1,167 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Confluent during the 2nd quarter worth approximately $175,000. Plato Investment Management Ltd boosted its holdings in shares of Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company's stock valued at $195,000 after acquiring an additional 6,312 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its holdings in shares of Confluent by 109.2% in the 2nd quarter. Centaurus Financial Inc. now owns 7,320 shares of the company's stock valued at $216,000 after acquiring an additional 3,821 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Activity at Confluent

In other Confluent news, Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total value of $31,335,085.10. Following the completion of the transaction, the director now owns 12,559 shares in the company, valued at approximately $362,955.10. The trade was a 98.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now owns 678,016 shares of the company's stock, valued at $21,425,305.60. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,237,879 shares of company stock worth $118,823,850 in the last quarter. 13.82% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on CFLT shares. Evercore ISI dropped their price objective on shares of Confluent from $33.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, September 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Confluent in a report on Friday, November 15th. Robert W. Baird upped their price objective on shares of Confluent from $23.00 to $28.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Confluent from $25.00 to $26.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Finally, Scotiabank boosted their target price on shares of Confluent from $25.00 to $27.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Confluent currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.88.

Confluent Stock Performance

Shares of CFLT traded up $0.27 during mid-day trading on Friday, reaching $30.84. 1,625,605 shares of the company's stock were exchanged, compared to its average volume of 4,681,850. The business's fifty day simple moving average is $24.40 and its 200-day simple moving average is $24.64. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The stock has a market capitalization of $10.12 billion, a PE ratio of -27.78 and a beta of 0.82. 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 issued its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. On average, equities research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

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.