Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC reduced its stake in Confluent, Inc. (NASDAQ:CFLT) by 35.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 139,767 shares of the company’s stock after selling 75,434 shares during the quarter. Confluent accounts for 1.6% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Pursue Wealth Partners LLC’s holdings in Confluent were worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CFLT. Vanguard Group Inc. raised its holdings in Confluent by 3.5% during the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after purchasing an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after buying an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Confluent by 28.4% during the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in Confluent during the 2nd quarter worth about $193,403,000. Finally, Champlain Investment Partners LLC acquired a new position in Confluent in the 1st quarter valued at about $144,563,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CFLT shares. Barclays increased their target price on Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus reduced their target price on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Sanford C. Bernstein cut their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Mizuho boosted their target price on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.28.

Confluent Stock Up 0.9 %

Confluent stock opened at $26.40 on Friday. The company has a market capitalization of $8.52 billion, a P/E ratio of -23.58 and a beta of 0.88. Confluent, Inc. has a 1-year low of $14.69 and a 1-year high of $35.07. The firm’s fifty day simple moving average is $20.94 and its 200-day simple moving average is $24.69. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.25.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. Sell-side analysts forecast that Confluent, Inc. will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Confluent news, Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the sale, the director now directly owns 7,160 shares in the company, valued at $143,271.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Confluent news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,045,235.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lara Caimi sold 9,375 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the sale, the director now owns 7,160 shares of the company’s stock, valued at $143,271.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 524,453 shares of company stock valued at $10,833,388 over the last 90 days. 13.82% of the stock is currently owned by company insiders.

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.