8,300 Shares in Confluent, Inc. (NASDAQ:CFLT) Purchased by Capital Investment Counsel Inc

Capital Investment Counsel Inc purchased a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, HoldingsChannel reports. The firm purchased 8,300 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors have also made changes to their positions in the stock. Champlain Investment Partners LLC increased its position in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Confluent by 2.5% during the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares during the last quarter. Atreides Management LP increased its position in shares of Confluent by 7.3% during the third quarter. Atreides Management LP now owns 2,706,910 shares of the company’s stock valued at $55,167,000 after acquiring an additional 184,865 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Confluent by 46.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock valued at $51,224,000 after acquiring an additional 802,353 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock valued at $46,549,000 after acquiring an additional 64,926 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Stock Down 4.7 %

CFLT stock opened at $31.01 on Friday. The company has a fifty day moving average price of $29.86 and a 200 day moving average price of $25.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a market cap of $10.17 billion, a price-to-earnings ratio of -28.71 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results 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 net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of research reports. Canaccord Genuity Group lifted their price objective on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Sanford C. Bernstein dropped their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Truist Financial lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and an average target price of $35.00.

Insider Activity at Confluent

In related news, CMO Stephanie Buscemi sold 26,047 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $32.89, for a total value of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares in the company, valued at $4,748,427.97. This represents a 15.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kong Phan sold 3,947 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $28.74, for a total transaction of $113,436.78. Following the completion of the transaction, the chief accounting officer now directly owns 179,939 shares in the company, valued at $5,171,446.86. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,140,614 shares of company stock worth $38,017,784 in the last 90 days. 13.82% of the stock is owned by 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.