Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 49.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,304 shares of the company’s stock after selling 273,050 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Confluent worth $5,611,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Confluent during the 2nd quarter worth approximately $68,000. UniSuper Management Pty Ltd raised its stake in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the last quarter. Lazard Asset Management LLC raised its stake in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Confluent in the 2nd quarter valued at $175,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the completion of 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 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Kong Phan sold 2,096 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $59,170.08. Following the completion of the transaction, the chief accounting officer now directly owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. This trade represents a 1.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,425,457 shares of company stock valued at $93,622,927. 13.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CFLT. Piper Sandler dropped their target price on Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Barclays raised their target price on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. DA Davidson restated a “buy” rating and set a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. Wolfe Research raised Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, Baird R W raised Confluent to a “hold” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and an average price target of $30.88.

Confluent Stock Performance

Shares of CFLT stock opened at $31.52 on Friday. The stock has a fifty day moving average price of $23.35 and a 200 day moving average price of $24.64. The stock has a market cap of $10.34 billion, a PE ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Sell-side analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal 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.