Bienville Capital Management LLC Sells 501,547 Shares of Confluent, Inc. (NASDAQ:CFLT)

Bienville Capital Management LLC lessened its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,731 shares of the company's stock after selling 501,547 shares during the period. Confluent accounts for about 1.6% of Bienville Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Bienville Capital Management LLC owned approximately 0.07% of Confluent worth $6,535,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of Confluent by 4.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company's stock worth $323,000 after buying an additional 458 shares during the last quarter. Truist Financial Corp boosted its position in Confluent by 2.5% during the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after purchasing an additional 514 shares during the period. Sit Investment Associates Inc. grew its holdings in Confluent by 0.5% during the fourth quarter. Sit Investment Associates Inc. now owns 124,623 shares of the company's stock valued at $3,484,000 after purchasing an additional 680 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Confluent by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 108,859 shares of the company's stock valued at $3,044,000 after purchasing an additional 680 shares during the period. Finally, Credit Industriel ET Commercial acquired a new stake in shares of Confluent in the fourth quarter worth $28,000. 78.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CFLT. TD Securities dropped their target price on shares of Confluent from $34.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday. Robert W. Baird dropped their price target on Confluent from $37.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday. Bank of America increased their price objective on Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research report on Wednesday, February 12th. Loop Capital dropped their target price on shares of Confluent from $30.00 to $22.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI reduced their price target on shares of Confluent from $29.00 to $28.00 and set an "outperform" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $30.28.

Confluent Price Performance

Shares of NASDAQ CFLT traded down $0.07 during trading on Monday, reaching $19.75. The company had a trading volume of 6,576,772 shares, compared to its average volume of 4,716,656. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The business's 50 day moving average price is $24.45 and its 200-day moving average price is $27.45. The stock has a market cap of $6.60 billion, a PE ratio of -18.29 and a beta of 1.03.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The firm had revenue of $271.12 million for the quarter, compared to the consensus estimate of $264.45 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Confluent news, CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50. Following the transaction, the chief accounting officer now directly owns 246,516 shares in the company, valued at approximately $6,621,419.76. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 520,273 shares of the company's stock, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,200,746 shares of company stock valued at $38,505,150. Company insiders own 13.82% of the company's stock.

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.