Confluent, Inc. (NASDAQ:CFLT) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,799,681 shares of the company's stock after selling 29,609 shares during the period. Confluent accounts for about 0.7% of William Blair Investment Management LLC's investment portfolio, making the stock its 22nd largest position. William Blair Investment Management LLC owned about 3.29% of Confluent worth $301,959,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in shares of Confluent by 4.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock worth $323,000 after purchasing an additional 458 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in Confluent by 3.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company's stock worth $293,000 after purchasing an additional 503 shares during the period. Truist Financial Corp grew its holdings in 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. GAMMA Investing LLC raised its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after buying an additional 1,136 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Confluent by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company's stock worth $472,000 after buying an additional 1,137 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company's stock.

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Confluent Stock Down 0.5 %

NASDAQ:CFLT traded down $0.12 during mid-day trading on Friday, reaching $26.50. The company's stock had a trading volume of 4,684,978 shares, compared to its average volume of 4,298,056. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The stock has a fifty day moving average of $29.49 and a 200-day moving average of $26.90. The firm has a market capitalization of $8.85 billion, a PE ratio of -24.54 and a beta of 0.90.

Confluent (NASDAQ:CFLT - Get Free Report) last released 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%. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CFLT. Evercore ISI raised their target price on shares of Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Loop Capital cut their price objective on Confluent from $34.00 to $30.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Stifel Nicolaus boosted their target price on Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price target on Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lifted their price objective on Confluent from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. One investment 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average price target of $35.33.

Insider Buying and Selling at Confluent

In other news, Director Michelangelo Volpi sold 25,000 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $905,500.00. Following the transaction, the director now directly owns 292,079 shares of the company's stock, valued at approximately $10,579,101.38. This represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of the firm's stock in a transaction on 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 $18,849,490.79. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,197,571 shares of company stock valued at $38,419,870. 13.82% of the stock is currently owned by insiders.

Confluent Company 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.