Rockefeller Capital Management L.P. Trims Holdings in Confluent, Inc. (NASDAQ:CFLT)

Rockefeller Capital Management L.P. cut its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 40.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,094 shares of the company's stock after selling 18,500 shares during the period. Rockefeller Capital Management L.P.'s holdings in Confluent were worth $758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. M&T Bank Corp raised its holdings in Confluent by 12.3% in the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company's stock worth $602,000 after purchasing an additional 2,367 shares during the period. Friedenthal Financial purchased a new stake in Confluent in the fourth quarter worth about $758,000. Victory Capital Management Inc. raised its stake in shares of Confluent by 135.7% in the fourth 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 period. Truist Financial Corp lifted its position in shares of Confluent by 2.5% during 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 in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new position in shares of Confluent during the 4th quarter valued at approximately $252,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Insider Activity

In related news, Director Neha Narkhede sold 40,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.68, for a total transaction of $1,227,200.00. Following the transaction, the director now directly owns 20,247 shares in the company, valued at $621,177.96. The trade was a 66.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the sale, the chief financial officer now directly owns 520,273 shares of the company's stock, valued at approximately $18,849,490.79. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,200,746 shares of company stock worth $38,505,150. 13.82% of the stock is currently owned by company insiders.

Confluent Stock Up 3.7 %

Shares of CFLT stock traded up $0.87 during mid-day trading on Friday, hitting $24.13. The stock had a trading volume of 4,467,632 shares, compared to its average volume of 4,516,720. The firm has a market capitalization of $8.06 billion, a P/E ratio of -22.34 and a beta of 1.03. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The firm's 50-day moving average is $25.39 and its two-hundred day moving average is $27.37.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) 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%. On average, analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CFLT. Bank of America raised their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. Truist Financial lowered their target price on shares of Confluent from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group raised their price target on Confluent from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley dropped their price objective on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Evercore ISI lifted their target price on Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. One 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 stock. According to MarketBeat.com, Confluent currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.39.

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.