Centaurus Financial Inc. Sells 792 Shares of Confluent, Inc. (NASDAQ:CFLT)

Centaurus Financial Inc. cut its holdings in Confluent, Inc. (NASDAQ:CFLT) by 10.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,528 shares of the company’s stock after selling 792 shares during the period. Centaurus Financial Inc.’s holdings in Confluent were worth $133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Algert Global LLC bought a new position in Confluent in the 3rd quarter valued at approximately $1,775,000. Cerity Partners LLC lifted its position in Confluent by 28.1% in the 3rd quarter. Cerity Partners LLC now owns 35,129 shares of the company’s stock valued at $716,000 after acquiring an additional 7,705 shares in the last quarter. Champlain Investment Partners LLC lifted its position in Confluent by 72.2% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Confluent by 2.9% in the 3rd 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 in the last quarter. Finally, Intellectus Partners LLC lifted its position in Confluent by 132.1% in the 3rd quarter. Intellectus Partners LLC now owns 67,300 shares of the company’s stock valued at $1,372,000 after acquiring an additional 38,300 shares in the last quarter. 78.09% of the stock is owned by institutional investors.

Confluent Price Performance

NASDAQ:CFLT opened at $30.57 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business’s 50-day simple moving average is $24.00 and its two-hundred day simple moving average is $24.63. The stock has a market cap of $10.03 billion, a PE ratio of -27.54 and a beta of 0.82. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

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

Insider Transactions at Confluent

In other news, CTO Chad Verbowski sold 13,414 shares of Confluent stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total value of $378,677.22. Following the sale, the chief technology officer now directly owns 483,393 shares of the company’s stock, valued at approximately $13,646,184.39. The trade was a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $19.99, for a total value of $4,647,675.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,045,235.12. The trade was a 33.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,237,879 shares of company stock valued at $118,823,850. 13.82% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CFLT shares. Wells Fargo & Company lowered their price objective on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. UBS Group raised their price target on Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. DA Davidson restated a “buy” rating and issued a $30.00 price target on shares of Confluent in a research note on Wednesday, September 18th. Finally, Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

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.