Pursue Wealth Partners LLC Sells 75,434 Shares of Confluent, Inc. (NASDAQ:CFLT)

Pursue Wealth Partners LLC decreased its position in Confluent, Inc. (NASDAQ:CFLT) by 35.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,767 shares of the company’s stock after selling 75,434 shares during the period. Confluent accounts for 1.6% of Pursue Wealth Partners LLC’s portfolio, making the stock its 20th largest position. Pursue Wealth Partners LLC’s holdings in Confluent were worth $2,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CFLT. US Bancorp DE grew its position in shares of Confluent by 307.7% during the 3rd quarter. US Bancorp DE now owns 16,702 shares of the company’s stock worth $340,000 after buying an additional 12,605 shares during the period. Lake Street Advisors Group LLC boosted its stake in Confluent by 14.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock worth $377,000 after acquiring an additional 2,263 shares during the last quarter. SWS Partners acquired a new position in Confluent during the third quarter valued at approximately $802,000. Creative Planning increased its stake in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after purchasing an additional 49,699 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in Confluent by 110.3% in the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after purchasing an additional 31,729 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CFLT. DA Davidson reiterated a “buy” rating and set a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. Canaccord Genuity Group dropped their target price on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. UBS Group upped their price objective on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, TD Cowen increased their price objective on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.28.

Confluent Price Performance

Confluent stock opened at $26.40 on Friday. The stock has a market cap of $8.52 billion, a P/E ratio of -23.58 and a beta of 0.88. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. The company’s 50 day moving average price is $20.94 and its two-hundred day moving average price is $24.69. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.97% and a negative net margin of 38.35%. On average, equities analysts predict that Confluent, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other news, CMO Stephanie Buscemi sold 3,866 shares of Confluent stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now owns 161,673 shares in the company, valued at approximately $3,505,070.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CMO Stephanie Buscemi sold 3,866 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total value of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at $3,505,070.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $9,045,235.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,453 shares of company stock worth $10,833,388 over the last ninety days. 13.82% of the stock is owned by corporate insiders.

About Confluent

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.