Quantinno Capital Management LP Has $2.44 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

Quantinno Capital Management LP lessened its position in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 16.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 87,399 shares of the company's stock after selling 17,261 shares during the period. Quantinno Capital Management LP's holdings in Confluent were worth $2,444,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Confluent during the fourth quarter worth $81,092,000. Pictet Asset Management Holding SA lifted its position in Confluent by 7,342.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company's stock worth $65,748,000 after buying an additional 2,319,919 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Confluent during the 4th quarter worth about $64,658,000. MIG Capital LLC acquired a new stake in Confluent in the 4th quarter valued at about $27,007,000. Finally, Greenhouse Funds LLLP raised its stake in shares of Confluent by 102.2% in the fourth quarter. Greenhouse Funds LLLP now owns 1,820,446 shares of the company's stock worth $50,900,000 after acquiring an additional 919,997 shares during the last quarter. Institutional investors own 78.09% of the company's stock.

Insider Buying and Selling at Confluent

In other Confluent news, CRO Ban Ryan Norris Mac sold 9,476 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $21.83, for a total transaction of $206,861.08. Following the transaction, the executive now owns 427,515 shares of the company's stock, valued at $9,332,652.45. The trade was a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Chadwick sold 34,375 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $30.57, for a total transaction of $1,050,843.75. Following the transaction, the director now owns 22,688 shares in the company, valued at approximately $693,572.16. The trade was a 60.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 732,988 shares of company stock worth $19,883,902. Insiders own 9.20% of the company's stock.

Confluent Stock Down 0.2%

CFLT traded down $0.05 during trading on Monday, reaching $21.84. The company had a trading volume of 3,483,236 shares, compared to its average volume of 4,800,758. The company has a market cap of $7.43 billion, a P/E ratio of -20.22 and a beta of 1.02. Confluent, Inc. has a 12 month low of $17.79 and a 12 month 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 business's fifty day moving average price is $22.47 and its 200 day moving average price is $27.19.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company's quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

CFLT has been the topic of several research analyst reports. Barclays decreased their price target on shares of Confluent from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Citigroup reiterated a "neutral" rating on shares of Confluent in a research report on Wednesday. Guggenheim dropped their target price on Confluent from $38.00 to $31.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Truist Financial decreased their price target on Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JMP Securities lowered their price objective on Confluent from $40.00 to $36.00 and set a "market outperform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average price target of $30.11.

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.