Trivest Advisors Ltd Makes New Investment in Confluent, Inc. (NASDAQ:CFLT)

Trivest Advisors Ltd purchased a new position in Confluent, Inc. (NASDAQ:CFLT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,331,000 shares of the company's stock, valued at approximately $31,145,000. Confluent accounts for 1.4% of Trivest Advisors Ltd's holdings, making the stock its 13th largest position. Trivest Advisors Ltd owned approximately 0.43% of Confluent as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd bought a new position in Confluent in the 3rd quarter worth approximately $36,000. Rakuten Securities Inc. acquired a new stake in Confluent during the fourth quarter worth $31,000. GAMMA Investing LLC bought a new stake in Confluent in the 4th quarter valued at $35,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Confluent by 56.5% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,748 shares of the company's stock valued at $81,000 after buying an additional 992 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Confluent by 32.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,533 shares of the company's stock worth $105,000 after acquiring an additional 864 shares during the period. 78.09% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Lara Caimi sold 9,375 shares of the company's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $31.00, for a total transaction of $290,625.00. Following the completion of the transaction, the director now directly owns 5,399 shares of the company's stock, valued at $167,369. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Stephanie Buscemi sold 2,724 shares of Confluent stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $87,576.60. Following the sale, the chief marketing officer now owns 109,002 shares of the company's stock, valued at $3,504,414.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lara Caimi sold 9,375 shares of the company's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $31.00, for a total value of $290,625.00. Following the sale, the director now owns 5,399 shares in the company, valued at approximately $167,369. The disclosure for this sale can be found here. Insiders sold 873,277 shares of company stock worth $28,572,424 over the last quarter. 13.82% of the stock is currently owned by company insiders.

Confluent Trading Down 5.2 %

CFLT stock traded down $1.61 during midday trading on Friday, hitting $29.42. 3,734,508 shares of the company's stock were exchanged, compared to its average volume of 3,906,009. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.62 and a current ratio of 5.07. The company has a market cap of $9.20 billion, a PE ratio of -23.54 and a beta of 0.93. The stock's fifty day moving average price is $30.04 and its 200-day moving average price is $26.30.

Confluent (NASDAQ:CFLT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $213.18 million during the quarter, compared to analyst estimates of $204.62 million. Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. Research analysts predict that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of analyst reports. UBS Group upped their target price on shares of Confluent from $21.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, February 5th. DA Davidson restated a "buy" rating and set a $37.00 target price on shares of Confluent in a research report on Monday, April 1st. Royal Bank of Canada upped their price target on Confluent from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on Confluent from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Loop Capital assumed coverage on shares of Confluent in a research note on Tuesday, January 30th. They issued a "hold" rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Confluent presently has a consensus rating of "Moderate Buy" and an average target price of $32.88.

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.

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