Blair William & Co. IL Sells 16,449 Shares of Confluent, Inc. $CFLT

Blair William & Co. IL trimmed its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,126 shares of the company’s stock after selling 16,449 shares during the quarter. Blair William & Co. IL’s holdings in Confluent were worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Confluent during the second quarter worth $89,736,000. Vanguard Group Inc. increased its holdings in Confluent by 10.5% in the third quarter. Vanguard Group Inc. now owns 31,347,214 shares of the company’s stock valued at $620,675,000 after purchasing an additional 2,970,708 shares during the period. Atreides Management LP raised its position in Confluent by 82.0% during the 2nd quarter. Atreides Management LP now owns 3,012,215 shares of the company’s stock worth $75,095,000 after purchasing an additional 1,357,246 shares during the last quarter. Tredje AP fonden acquired a new position in Confluent during the 3rd quarter worth about $20,912,000. Finally, Bienville Capital Management LLC lifted its holdings in Confluent by 275.9% during the 2nd quarter. Bienville Capital Management LLC now owns 1,267,195 shares of the company’s stock worth $31,591,000 after buying an additional 930,097 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Confluent

In related news, CFO Rohan Sivaram sold 21,503 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $30.70, for a total value of $660,142.10. Following the transaction, the chief financial officer directly owned 561,966 shares in the company, valued at $17,252,356.20. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Neha Narkhede sold 80,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $30.59, for a total value of $2,447,200.00. Following the completion of the transaction, the director owned 28,549 shares in the company, valued at approximately $873,313.91. This represents a 73.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,243,249 shares of company stock valued at $37,666,918 over the last three months. 9.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CFLT shares. Citizens Jmp cut Confluent from an “outperform” rating to a “market perform” rating in a research note on Friday, January 9th. Truist Financial set a $31.00 price objective on Confluent in a research note on Monday, December 8th. Wolfe Research cut Confluent from an “outperform” rating to a “hold” rating in a report on Monday, December 8th. Raymond James Financial downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Finally, DA Davidson restated a “neutral” rating and set a $31.00 price target (up from $29.00) on shares of Confluent in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Hold” and an average target price of $28.71.

Confluent Stock Performance

Shares of CFLT opened at $30.71 on Thursday. Confluent, Inc. has a one year low of $15.64 and a one year high of $30.81. The company has a market cap of $10.98 billion, a PE ratio of -35.71 and a beta of 0.95. The stock has a 50-day moving average of $30.54 and a 200-day moving average of $25.71. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $314.82 million for the quarter, compared to the consensus estimate of $308.03 million. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS. On average, equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Confluent Company Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.