GMT Capital Corp Has $10.72 Million Stock Holdings in Confluent, Inc. (NASDAQ:CFLT)

GMT Capital Corp decreased its holdings in shares of Confluent, Inc. (NASDAQ:CFLT - Free Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 383,300 shares of the company's stock after selling 41,800 shares during the period. Confluent makes up 0.5% of GMT Capital Corp's holdings, making the stock its 23rd largest position. GMT Capital Corp owned 0.12% of Confluent worth $10,717,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Confluent during the fourth quarter worth about $59,000. GAMMA Investing LLC grew its stake in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after acquiring an additional 1,136 shares during the period. AlphaQuest LLC increased its holdings in shares of Confluent by 22,112.5% in the fourth quarter. AlphaQuest LLC now owns 3,554 shares of the company's stock worth $99,000 after acquiring an additional 3,538 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Confluent by 48.4% during the fourth quarter. IFP Advisors Inc now owns 4,945 shares of the company's stock worth $138,000 after purchasing an additional 1,613 shares during the period. Institutional investors and hedge funds own 78.09% of the company's stock.

Insider Activity

In other Confluent news, CFO Rohan Sivaram sold 68,350 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 520,273 shares in the company, valued at $18,849,490.79. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the sale, the director now directly owns 292,079 shares of the company's stock, valued at $10,579,101.38. This represents a 7.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is owned by insiders.

Analyst Ratings Changes

CFLT has been the subject of several research analyst reports. Bank of America boosted 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. Needham & Company LLC reissued a "buy" rating and set a $40.00 price objective on shares of Confluent in a research report on Friday, March 7th. Stifel Nicolaus raised their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Piper Sandler upped their target price on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, Barclays dropped their price target on Confluent from $37.00 to $29.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.39.

Confluent Stock Performance

Shares of CFLT stock traded down $0.32 during trading on Monday, reaching $23.81. 1,362,924 shares of the company's stock were exchanged, compared to its average volume of 4,507,175. The firm's fifty day moving average price is $25.39 and its 200-day moving average price is $27.45. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The stock has a market capitalization of $7.95 billion, a PE ratio of -21.99 and a beta of 1.03. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

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.