Confluent, Inc. (NASDAQ:CFLT) Stock Position Trimmed by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 310,312 shares of the company's stock after selling 27,985 shares during the period. Peregrine Capital Management LLC owned 0.09% of Confluent worth $8,676,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CFLT. Champlain Investment Partners LLC raised its stake in Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company's stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the period. Fiera Capital Corp purchased a new position in Confluent during the third quarter worth approximately $21,127,000. Jacobs Levy Equity Management Inc. raised its stake in Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company's stock worth $51,224,000 after purchasing an additional 802,353 shares during the period. Savant Capital LLC purchased a new position in Confluent during the fourth quarter worth approximately $10,607,000. Finally, Oddo BHF Asset Management Sas purchased a new position in Confluent during the third quarter worth approximately $7,646,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Confluent Stock Down 4.7 %

CFLT stock traded down $1.53 during mid-day trading on Friday, hitting $31.01. 8,023,704 shares of the company were exchanged, compared to its average volume of 5,634,724. The company has a market capitalization of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. 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 twelve month low of $17.79 and a twelve month high of $37.90. The firm has a fifty day simple moving average of $29.86 and a 200 day simple moving average of $25.92.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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, research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were 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 directly owns 520,273 shares in the company, valued at approximately $18,849,490.79. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Kong Phan sold 12,460 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $31.30, for a total transaction of $389,998.00. Following the completion of the transaction, the chief accounting officer now owns 183,886 shares in the company, valued at approximately $5,755,631.80. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,140,614 shares of company stock valued at $38,017,784 in the last ninety days. Corporate insiders own 13.82% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CFLT. JPMorgan Chase & Co. increased their price target on shares of Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased 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. Mizuho raised their target price on shares of Confluent from $31.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of Confluent from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein cut their target price on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and an average price target of $35.00.

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.