Confluent, Inc. (NASDAQ:CFLT) Shares Sold by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC decreased its position in shares of Confluent, Inc. (NASDAQ:CFLT) by 1.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 47,009 shares of the company’s stock after selling 772 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Confluent were worth $1,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in shares of Confluent by 3.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after acquiring an additional 503 shares during the period. GAMMA Investing LLC increased its stake in 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 period. Truist Financial Corp increased its stake in Confluent by 5.3% in the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock valued at $721,000 after purchasing an additional 1,238 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in shares of Confluent by 8.4% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,643 shares of the company’s stock valued at $551,000 after buying an additional 1,448 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Confluent by 16.0% during the second quarter. ProShare Advisors LLC now owns 13,589 shares of the company’s stock worth $401,000 after buying an additional 1,870 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Confluent Trading Down 0.1 %

Confluent stock opened at $26.70 on Friday. The stock has a market cap of $8.76 billion, a PE ratio of -24.05 and a beta of 0.91. 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 50-day moving average price of $29.62 and a 200 day moving average price of $24.96. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Equities research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on Confluent from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird upped their price objective on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Truist Financial lifted their target price on shares of Confluent from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada increased their price target on shares of Confluent from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Scotiabank lifted their price objective on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and an average target price of $32.37.

Insiders Place Their Bets

In related news, Director Matthew Craig Miller sold 1,084,259 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10. Following the completion of the transaction, the director now owns 12,559 shares of the company’s stock, valued at approximately $362,955.10. This represents a 98.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michelangelo Volpi sold 50,000 shares of Confluent stock in a transaction on Friday, November 1st. The shares were sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the completion of the transaction, the director now owns 280,200 shares in the company, valued at approximately $7,262,784. This trade represents a 15.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,584,712 shares of company stock valued at $132,928,936 in the last quarter. 13.82% of the stock is currently owned by company 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.