Fiera Capital Corp Sells 20,204 Shares of Confluent, Inc. (NASDAQ:CFLT)

Fiera Capital Corp trimmed its position in Confluent, Inc. (NASDAQ:CFLT) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016,453 shares of the company’s stock after selling 20,204 shares during the period. Fiera Capital Corp owned approximately 0.31% of Confluent worth $28,420,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CFLT. Blue Trust Inc. raised its position in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Confluent during the 3rd quarter worth approximately $68,000. GAMMA Investing LLC raised its holdings in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock worth $170,000 after purchasing an additional 1,619 shares in the last quarter. Finally, DMC Group LLC acquired a new position in Confluent during the fourth quarter worth $201,000. 78.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Confluent

In other news, insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the transaction, the insider now owns 687,483 shares of the company’s stock, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Craig Miller sold 53,512 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $33.64, for a total value of $1,800,143.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,508,636 shares of company stock valued at $47,198,798 in the last ninety days. 13.82% of the stock is currently owned by company insiders.

Confluent Trading Down 3.8 %

Shares of CFLT stock opened at $36.23 on Friday. The stock has a 50 day simple moving average of $29.64 and a 200 day simple moving average of $25.45. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market cap of $11.88 billion, a P/E ratio of -32.64 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results 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 34.05% and a negative net margin of 38.35%. On average, research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Canaccord Genuity Group boosted their price target on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim upped their price objective on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler raised their target price on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup upped their price target on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.