Pursue Wealth Partners LLC Sells 26,462 Shares of Confluent, Inc. (NASDAQ:CFLT)

Pursue Wealth Partners LLC cut its stake in Confluent, Inc. (NASDAQ:CFLT) by 20.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,464 shares of the company’s stock after selling 26,462 shares during the quarter. Confluent accounts for 1.6% of Pursue Wealth Partners LLC’s holdings, making the stock its 20th biggest position. Pursue Wealth Partners LLC’s holdings in Confluent were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Confluent by 14.0% in the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock valued at $113,230,000 after acquiring an additional 470,002 shares during the last quarter. KADENSA CAPITAL Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at about $11,512,000. Tower Research Capital LLC TRC increased its stake in shares of Confluent by 18,649.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,187 shares of the company’s stock valued at $361,000 after acquiring an additional 12,122 shares during the last quarter. Northern Trust Corp increased its stake in shares of Confluent by 45.7% in the 3rd quarter. Northern Trust Corp now owns 1,044,896 shares of the company’s stock valued at $30,939,000 after acquiring an additional 327,940 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Confluent by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,424,394 shares of the company’s stock valued at $545,546,000 after acquiring an additional 2,125,843 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Insider Transactions at Confluent

In other news, CTO Chad Verbowski sold 8,086 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total transaction of $252,283.20. Following the sale, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at approximately $16,600,646.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO Chad Verbowski sold 8,086 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.20, for a total value of $252,283.20. Following the sale, the chief technology officer now directly owns 532,072 shares of the company’s stock, valued at $16,600,646.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $32.46, for a total value of $7,546,950.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,433,170 shares of company stock valued at $46,438,029. 22.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JMP Securities boosted their price objective on Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. Royal Bank of Canada increased their price objective on Confluent from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Mizuho cut their price objective on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a report on Monday, April 15th. DA Davidson reissued a “buy” rating and issued a $37.00 price objective on shares of Confluent in a report on Monday, April 1st. Finally, Stifel Nicolaus initiated coverage on Confluent in a report on Wednesday, February 21st. They issued a “buy” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.64.

Confluent Trading Up 3.0 %

CFLT stock traded up $0.86 during trading hours on Friday, hitting $29.75. 3,833,529 shares of the stock were exchanged, compared to its average volume of 2,989,482. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 1.34. The company has a 50-day simple moving average of $30.92 and a two-hundred day simple moving average of $26.36. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $41.22.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $213.18 million for the quarter, compared to analyst estimates of $204.62 million. Confluent had a negative return on equity of 44.16% and a negative net margin of 56.99%. On average, sell-side analysts expect that Confluent, Inc. will post -0.92 earnings per share for the current fiscal year.

Confluent Company 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.