Mariner LLC Acquires 5,325 Shares of Confluent, Inc. (NASDAQ:CFLT)

Mariner LLC grew its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 23.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 28,359 shares of the company’s stock after purchasing an additional 5,325 shares during the period. Mariner LLC’s holdings in Confluent were worth $793,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CFLT. Vanguard Group Inc. lifted its position in Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after buying an additional 599,582 shares during the last quarter. Geode Capital Management LLC lifted its position in Confluent by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock worth $123,339,000 after buying an additional 84,163 shares during the last quarter. Norges Bank bought a new stake in Confluent in the 4th quarter worth approximately $81,092,000. Charles Schwab Investment Management Inc. lifted its position in Confluent by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,355,491 shares of the company’s stock worth $65,860,000 after buying an additional 71,454 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Confluent by 7,342.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after buying an additional 2,319,919 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Insider Transactions at Confluent

In other Confluent news, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at approximately $18,849,490.79. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $14,628,937.04. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,200,746 shares of company stock valued at $38,505,150 over the last ninety days. Insiders own 13.82% of the company’s stock.

Confluent Price Performance

NASDAQ:CFLT opened at $24.09 on Tuesday. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of -22.31 and a beta of 1.03. The firm’s fifty day moving average is $25.21 and its two-hundred day moving average is $27.47.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Research analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CFLT. Truist Financial dropped their target price on Confluent from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Loop Capital decreased their price target on Confluent from $30.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price target on Confluent from $32.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI lifted their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their price target on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target 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.