Confluent, Inc. (NASDAQ:CFLT) Position Decreased by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC lowered its position in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 53.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,809 shares of the company's stock after selling 20,156 shares during the period. Sherbrooke Park Advisers LLC's holdings in Confluent were worth $498,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC increased its holdings in Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company's stock worth $301,000 after purchasing an additional 328 shares during the last quarter. Commonwealth Equity Services LLC increased its stake 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 increased its stake in shares of Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company's stock worth $589,000 after buying an additional 514 shares during the last quarter. Jasper Ridge Partners L.P. raised its holdings in Confluent by 4.8% in the fourth quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company's stock valued at $403,000 after acquiring an additional 664 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in Confluent by 0.5% during the 4th quarter. Sit Investment Associates Inc. now owns 124,623 shares of the company's stock valued at $3,484,000 after acquiring an additional 680 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

Confluent Stock Performance

CFLT traded down $0.13 during trading hours on Friday, hitting $21.76. The company's stock had a trading volume of 671,958 shares, compared to its average volume of 4,780,235. The company has a 50-day simple moving average of $22.57 and a 200 day simple moving average of $27.23. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $7.41 billion, a PE ratio of -20.12 and a beta of 1.02. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90.

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. The company had revenue of $271.12 million for the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The company's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. As a group, sell-side analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CFLT shares. Royal Bank of Canada boosted their target price on shares of Confluent from $36.00 to $41.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Bank of America boosted their price objective on Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a report on Wednesday, February 12th. Robert W. Baird reduced their target price on Confluent from $37.00 to $24.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. JMP Securities lowered their price target on Confluent from $40.00 to $36.00 and set a "market outperform" rating for the company in a report on Thursday, May 1st. Finally, Raymond James began coverage on Confluent in a research report on Friday, April 11th. They set an "outperform" rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Insiders Place Their Bets

In related news, CFO Rohan Sivaram sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $31.14, for a total transaction of $342,540.00. Following the transaction, the chief financial officer now owns 701,403 shares in the company, valued at $21,841,689.42. This trade represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward Jay Kreps sold 37,707 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $21.84, for a total value of $823,520.88. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $9,882,337.92. The trade was a 7.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 736,028 shares of company stock worth $19,977,382. 13.82% of the stock is owned by corporate insiders.

Confluent Company 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.