Dimensional Fund Advisors LP Sells 297,807 Shares of Confluent, Inc. (NASDAQ:CFLT)

Dimensional Fund Advisors LP cut its holdings in Confluent, Inc. (NASDAQ:CFLT) by 60.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,392 shares of the company’s stock after selling 297,807 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.06% of Confluent worth $5,770,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CFLT. California State Teachers Retirement System raised its holdings in shares of Confluent by 5.2% in the 4th quarter. California State Teachers Retirement System now owns 251,429 shares of the company’s stock valued at $5,883,000 after purchasing an additional 12,350 shares in the last quarter. Prudential PLC bought a new stake in Confluent during the 4th quarter valued at $333,000. Neuberger Berman Group LLC bought a new position in shares of Confluent in the 4th quarter worth $274,000. Coatue Management LLC purchased a new stake in shares of Confluent during the 4th quarter worth $134,132,000. Finally, Berylson Capital Partners LLC grew its stake in Confluent by 88.1% in the fourth quarter. Berylson Capital Partners LLC now owns 85,400 shares of the company’s stock valued at $1,998,000 after purchasing an additional 40,000 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

Confluent Stock Down 0.4 %

CFLT stock opened at $19.89 on Wednesday. Confluent, Inc. has a one year low of $14.69 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.25, a quick ratio of 4.44 and a current ratio of 4.44. The firm’s fifty day moving average is $20.50 and its 200 day moving average is $25.58. The firm has a market cap of $6.32 billion, a PE ratio of -15.91 and a beta of 0.88.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, July 31st. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The business had revenue of $234.99 million for the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. On average, research analysts forecast that Confluent, Inc. will post -0.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Evercore ISI reduced their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Citigroup lowered their price objective on Confluent from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Mizuho reduced their target price on Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Baird R W raised Confluent to a “hold” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and an average target price of $29.97.

Insider Transactions at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $83,814.88. Following the sale, the chief marketing officer now directly owns 161,673 shares in the company, valued at approximately $3,505,070.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00. Following the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock valued at $10,833,388 in the last three months. 13.82% of the stock is currently owned by company insiders.

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.