Confluent, Inc. (NASDAQ:CFLT) Position Trimmed by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its holdings in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 16.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,855,916 shares of the company's stock after selling 973,153 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.48% of Confluent worth $135,772,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. M&T Bank Corp lifted its position in Confluent by 12.3% in the fourth quarter. M&T Bank Corp now owns 21,540 shares of the company's stock valued at $602,000 after buying an additional 2,367 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Confluent in the 4th quarter worth approximately $758,000. Victory Capital Management Inc. boosted its position in shares of Confluent by 135.7% during the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after purchasing an additional 373,682 shares during the period. Truist Financial Corp lifted its stake 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 in the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new position in Confluent during the 4th quarter valued at about $252,000. Institutional investors and hedge funds own 78.09% of the company's stock.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of analyst reports. UBS Group raised Confluent from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $34.00 to $38.00 in a research report on Wednesday, February 26th. Bank of America increased their price target on shares of Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research note on Wednesday, February 12th. 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 research report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of Confluent from $36.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Finally, William Blair reiterated an "outperform" rating on shares of Confluent in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Confluent presently has an average rating of "Moderate Buy" and a consensus price target of $33.39.

Confluent Price Performance

CFLT traded down $0.25 during trading on Wednesday, reaching $23.81. 7,855,346 shares of the stock were exchanged, compared to its average volume of 4,531,046. 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 company has a market capitalization of $7.95 billion, a price-to-earnings ratio of -22.05 and a beta of 1.03. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The business's 50 day moving average price is $25.04 and its two-hundred day moving average price is $27.44.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.25). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. As a group, equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Kong Phan sold 3,175 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $26.86, for a total value of $85,280.50. Following the transaction, the chief accounting officer now 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 can be accessed through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $29.36, for a total value of $6,826,200.00. Following the sale, the chief executive officer now owns 452,488 shares of the company's stock, valued at approximately $13,285,047.68. This trade represents a 33.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,200,746 shares of company stock valued at $38,505,150. Corporate insiders own 13.82% of the company's stock.

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.