US Bancorp DE Sells 12,486 Shares of Confluent, Inc. (NASDAQ:CFLT)

US Bancorp DE lessened its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,216 shares of the company’s stock after selling 12,486 shares during the period. US Bancorp DE’s holdings in Confluent were worth $118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CFLT. EP Wealth Advisors LLC boosted its stake in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares during the last quarter. Truist Financial Corp boosted its stake in Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares during the last quarter. GAMMA Investing LLC boosted its stake in Confluent by 85.3% during the 4th 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. Blue Trust Inc. boosted its stake in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in Confluent by 48.4% during the 4th 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. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CFLT shares. Royal Bank of Canada increased their target price on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Piper Sandler increased their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Bank of America raised their price target on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price target on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Loop Capital dropped their price target on Confluent from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Insider Activity at Confluent

In related news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rohan Sivaram sold 68,350 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now directly owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,201,518 shares of company stock worth $38,533,306. Company insiders own 13.82% of the company’s stock.

Confluent Stock Up 2.2 %

Shares of NASDAQ:CFLT opened at $26.36 on Monday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The business has a 50 day simple moving average of $29.66 and a two-hundred day simple moving average of $26.82. The firm has a market capitalization of $8.80 billion, a PE ratio of -24.41 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced 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%. On average, equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

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.