US Bancorp DE Sells 12,486 Shares of Confluent, Inc. (NASDAQ:CFLT)

US Bancorp DE decreased its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 74.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,216 shares of the company's stock after selling 12,486 shares during the period. US Bancorp DE's holdings in Confluent were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC raised its position in Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company's stock valued at $293,000 after buying an additional 503 shares during the period. Truist Financial Corp grew its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock valued at $589,000 after purchasing an additional 514 shares in the last quarter. GAMMA Investing LLC lifted its position in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after buying an additional 1,136 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of Confluent by 48.4% during the 4th quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock valued at $138,000 after acquiring an additional 1,613 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have commented on CFLT. Barclays boosted their target price on Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Loop Capital dropped their price objective on Confluent from $34.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Stifel Nicolaus lifted their target price on shares of Confluent from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. William Blair restated an "outperform" rating on shares of Confluent in a research note on Monday. Finally, Mizuho upped their price objective on shares of Confluent from $31.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.65 during trading hours on Thursday, reaching $26.61. The stock had a trading volume of 1,931,753 shares, compared to its average volume of 4,288,082. The company has a market cap of $8.89 billion, a price-to-earnings ratio of -24.80 and a beta of 0.90. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The business's fifty day moving average is $29.53 and its two-hundred day moving average is $26.90. 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 (NASDAQ:CFLT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. As a group, research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Rohan Sivaram sold 68,350 shares of the company'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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the transaction, the chief accounting officer now directly owns 179,939 shares of the company's stock, valued at $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,201,518 shares of company stock worth $38,533,306 over the last quarter. Company insiders own 13.82% of the company's stock.

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.