Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Vishria Bird Financial Group LLC

Vishria Bird Financial Group LLC trimmed its position in Confluent, Inc. (NASDAQ:CFLT) by 0.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 88,126 shares of the company’s stock after selling 470 shares during the quarter. Confluent comprises about 0.9% of Vishria Bird Financial Group LLC’s portfolio, making the stock its 23rd biggest holding. Vishria Bird Financial Group LLC’s holdings in Confluent were worth $2,464,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CFLT. Champlain Investment Partners LLC raised its position in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. Geode Capital Management LLC raised its holdings in Confluent by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the last quarter. Atreides Management LP lifted its stake in Confluent by 7.3% in the 3rd quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock worth $55,167,000 after purchasing an additional 184,865 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after purchasing an additional 802,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after purchasing an additional 64,926 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Stock Performance

CFLT opened at $28.74 on Friday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The business’s 50-day simple moving average is $29.62 and its 200-day simple moving average is $24.93.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. As a group, analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Insider Transactions at Confluent

In related news, Director Lara Caimi sold 34,500 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $31.32, for a total transaction of $1,080,540.00. Following the completion of the sale, the director now directly owns 7,160 shares of the company’s stock, valued at $224,251.20. This trade represents a 82.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Kong Phan sold 3,947 shares of Confluent stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now owns 179,939 shares in the company, 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. Over the last 90 days, insiders have sold 4,584,712 shares of company stock worth $132,928,936. Corporate insiders own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CFLT shares. Truist Financial boosted their price objective on Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Morgan Stanley reissued an “equal weight” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Confluent in a report on Thursday, January 16th. TD Cowen boosted their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Confluent from $34.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein cut their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus target price of $32.37.

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.