Confluent, Inc. (NASDAQ:CFLT) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other large investors have also made changes to their positions in CFLT. Oppenheimer & Co. Inc. increased its position in shares of Confluent by 32.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 91,062 shares of the company’s stock valued at $2,546,000 after acquiring an additional 22,449 shares during the period. GenTrust LLC acquired a new position in shares of Confluent in the 4th quarter valued at $1,441,000. Artemis Wealth Advisors LLC acquired a new position in shares of Confluent in the 4th quarter valued at $979,000. Impax Asset Management Group plc acquired a new position in shares of Confluent in the 4th quarter valued at $613,000. Finally, IFP Advisors Inc increased its position in shares of Confluent by 48.4% in 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 during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at approximately $13,285,047.68. The trade was a 33.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction on Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the sale, the chief accounting officer now directly owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,201,518 shares of company stock valued at $38,533,306 in the last 90 days. Company insiders own 13.82% of the company’s stock.

Confluent Stock Performance

NASDAQ:CFLT opened at $26.36 on Monday. 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 stock has a market capitalization of $8.80 billion, a P/E ratio of -24.41 and a beta of 0.90. The company has a 50 day moving average price of $29.66 and a 200 day moving average price of $26.82. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. Equities research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CFLT. Truist Financial upped their target price on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Mizuho upped their price target on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Morgan Stanley upped their price target on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $35.33.

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.