Rockefeller Capital Management L.P. Sells 18,500 Shares of Confluent, Inc. (NASDAQ:CFLT)

Rockefeller Capital Management L.P. lessened its stake in Confluent, Inc. (NASDAQ:CFLT - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,094 shares of the company's stock after selling 18,500 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Confluent were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. M&T Bank Corp raised its position in Confluent by 12.3% in the 4th quarter. M&T Bank Corp now owns 21,540 shares of the company's stock worth $602,000 after buying an additional 2,367 shares during the last quarter. Friedenthal Financial purchased a new position in Confluent in the 4th quarter worth about $758,000. Victory Capital Management Inc. raised its position in Confluent by 135.7% in the 4th quarter. Victory Capital Management Inc. now owns 648,986 shares of the company's stock worth $18,146,000 after buying an additional 373,682 shares during the last quarter. Truist Financial Corp raised its position in Confluent by 2.5% in the 4th 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. Finally, Stratos Wealth Advisors LLC purchased a new position in Confluent in the 4th quarter worth about $252,000. Hedge funds and other institutional investors own 78.09% of the company's stock.

Confluent Trading Down 0.2 %

NASDAQ CFLT traded down $0.04 on Monday, hitting $24.09. 3,416,291 shares of the stock were exchanged, compared to its average volume of 4,515,052. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The stock has a fifty day moving average price of $25.21 and a two-hundred day moving average price of $27.47. The firm has a market capitalization of $8.05 billion, a P/E ratio of -22.31 and a beta of 1.03. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on Confluent from $26.00 to $31.00 and gave the stock an "underperform" rating in a research report on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Confluent from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Piper Sandler increased their price objective 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. Raymond James started coverage on shares of Confluent in a research note on Friday, April 11th. They issued an "outperform" rating and a $30.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price objective on shares of Confluent in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.39.

Insider Activity

In other news, Director Michelangelo Volpi sold 25,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $905,500.00. Following the completion of the sale, the director now directly owns 292,079 shares of the company's stock, valued at approximately $10,579,101.38. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rohan Sivaram sold 68,350 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the sale, the chief financial officer now directly owns 520,273 shares of the company's stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is currently owned by company insiders.

Confluent 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.