Artisan Partners Limited Partnership Sells 62,396 Shares of Confluent, Inc. (NASDAQ:CFLT)

Artisan Partners Limited Partnership trimmed its holdings in Confluent, Inc. (NASDAQ:CFLT) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,033,351 shares of the company’s stock after selling 62,396 shares during the quarter. Artisan Partners Limited Partnership owned about 0.32% of Confluent worth $28,892,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CFLT. Blue Trust Inc. grew its stake in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the period. SBI Securities Co. Ltd. bought a new stake in Confluent in the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent in the 3rd quarter worth approximately $68,000. GAMMA Investing LLC raised its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Confluent by 22,112.5% during the 4th quarter. AlphaQuest LLC now owns 3,554 shares of the company’s stock valued at $99,000 after buying an additional 3,538 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insider Activity

In other news, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total value of $7,516,725.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares in the company, valued at approximately $14,628,937.04. This trade represents a 33.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Erica Schultz sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the transaction, the insider now owns 678,016 shares in the company, valued at $24,286,533.12. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,200,746 shares of company stock valued at $38,505,150 in the last ninety days. Insiders own 13.82% of the company’s stock.

Confluent Trading Down 4.8 %

CFLT stock opened at $24.33 on Friday. The firm has a fifty day moving average price of $29.36 and a 200 day moving average price of $27.14. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm has a market cap of $8.13 billion, a PE ratio of -22.53 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) 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%. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

CFLT has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial upped their price target on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI raised their price objective on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Mizuho upped their target price on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group lifted their price target on shares of Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research 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 given a strong buy rating to the stock. Based on data from MarketBeat, Confluent has an average rating of “Moderate Buy” and an average target price of $35.33.

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.