Russell Investments Group Ltd. Has $5.17 Million Stake in Confluent, Inc. (NASDAQ:CFLT)

Russell Investments Group Ltd. trimmed its stake in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,964 shares of the company's stock after selling 165,228 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Confluent worth $5,172,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Confluent in the 4th quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. AlphaQuest LLC boosted its position in Confluent by 22,112.5% during the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after acquiring an additional 3,538 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Confluent by 48.4% during the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock worth $138,000 after acquiring an additional 1,613 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Price Performance

Shares of CFLT stock traded down $0.36 on Friday, hitting $21.15. 2,602,037 shares of the company's stock were exchanged, compared to its average volume of 4,505,320. The company has a 50 day moving average of $26.76 and a 200 day moving average of $27.29. The stock has a market cap of $7.06 billion, a P/E ratio of -19.58 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.

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 return on equity of 34.70% and a negative net margin of 35.81%. On average, equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analyst Weigh In

CFLT has been the subject of several recent research reports. Canaccord Genuity Group increased their target price on shares of Confluent from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of Confluent in a research note on Friday, March 7th. Morgan Stanley dropped their target price on Confluent from $32.00 to $25.00 and set an "equal weight" rating on the stock in a report on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Confluent in a research report on Monday, March 17th. Finally, Wells Fargo & Company raised their target price on shares of Confluent from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.71.

Insider Activity at Confluent

In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $14,628,937.04. The trade was a 33.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Kong Phan sold 2,178 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $68,781.24. Following the transaction, the chief accounting officer now owns 177,415 shares of the company's stock, valued at $5,602,765.70. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,200,746 shares of company stock valued at $38,505,150 in the last 90 days. 13.82% of the stock is owned by corporate insiders.

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.