35,000 Shares in Confluent, Inc. (NASDAQ:CFLT) Acquired by Artemis Wealth Advisors LLC

Artemis Wealth Advisors LLC bought a new position in Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 35,000 shares of the company’s stock, valued at approximately $979,000. Confluent comprises approximately 0.2% of Artemis Wealth Advisors LLC’s holdings, making the stock its 22nd biggest holding.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after buying an additional 1,607 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Confluent in the third quarter valued at approximately $68,000. GAMMA Investing LLC lifted its position in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the last quarter. IFP Advisors Inc lifted its position in Confluent by 48.4% in the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company’s stock valued at $138,000 after purchasing an additional 1,613 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after purchasing an additional 1,619 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. UBS Group boosted their price objective on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Guggenheim boosted their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Confluent Price Performance

Shares of CFLT stock opened at $31.09 on Tuesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of -28.79 and a beta of 0.92. The business’s fifty day moving average is $29.86 and its 200 day moving average is $26.10. 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 (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS 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%. Research analysts expect that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Confluent

In other news, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $34.75, for a total transaction of $2,214,582.75. Following the transaction, the insider now directly owns 678,016 shares of the company’s stock, valued at $23,561,056. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 approximately $14,628,937.04. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,125,448 shares of company stock valued at $37,472,563. Insiders own 13.82% of the company’s stock.

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.