One Charles Private Wealth Services LLC Trims Holdings in Confluent, Inc. (NASDAQ:CFLT)

One Charles Private Wealth Services LLC lowered its position in Confluent, Inc. (NASDAQ:CFLT) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,397 shares of the company’s stock after selling 9,100 shares during the period. One Charles Private Wealth Services LLC’s holdings in Confluent were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new stake in shares of Confluent in the 4th quarter valued at $2,028,000. Trivest Advisors Ltd acquired a new position in Confluent during the fourth quarter valued at $11,989,000. West Tower Group LLC purchased a new stake in Confluent in the fourth quarter valued at $224,000. Xponance Inc. grew its position in Confluent by 6.3% during the 4th quarter. Xponance Inc. now owns 33,144 shares of the company’s stock worth $927,000 after purchasing an additional 1,962 shares during the period. Finally, LBP AM SA raised its stake in shares of Confluent by 17.5% during the 4th quarter. LBP AM SA now owns 1,176,200 shares of the company’s stock valued at $32,887,000 after buying an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $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 ninety days, insiders sold 1,197,571 shares of company stock worth $38,419,870. Insiders own 13.82% of the company’s stock.

Wall Street Analyst Weigh In

CFLT has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Confluent in a report on Friday, March 7th. Evercore ISI lifted their target price on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Guggenheim increased their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank raised their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, William Blair reiterated an “outperform” rating on shares of Confluent in a research report on Monday. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Price Performance

CFLT stock opened at $26.62 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The firm has a market capitalization of $8.89 billion, a PE ratio of -24.65 and a beta of 0.90. The business has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $26.90.

Confluent (NASDAQ:CFLT) last issued its 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%. Equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

About Confluent

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.