Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lowered its holdings in Confluent, Inc. (NASDAQ:CFLT) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,228 shares of the company’s stock after selling 5,305 shares during the period. Trillium Asset Management LLC’s holdings in Confluent were worth $4,480,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Confluent in the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the third quarter worth approximately $68,000. GAMMA Investing LLC raised its stake in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Confluent by 22,112.5% in the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after purchasing an additional 3,538 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Trading Up 3.4 %

Shares of NASDAQ CFLT opened at $27.25 on Thursday. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock’s 50 day moving average price is $29.53 and its two-hundred day moving average price is $26.90. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The stock has a market capitalization of $9.10 billion, a P/E ratio of -25.23 and a beta of 0.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (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%. On average, analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of several research reports. Scotiabank increased their target price on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Guggenheim raised their price objective on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial boosted their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Confluent in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Confluent from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 452,488 shares in the company, valued at $13,285,047.68. This represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders have sold 1,201,518 shares of company stock worth $38,533,306. 13.82% of the stock is currently owned by 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.