Sanctuary Advisors LLC Acquires 7,085 Shares of Confluent, Inc. (NASDAQ:CFLT)

Sanctuary Advisors LLC lifted its stake in Confluent, Inc. (NASDAQ:CFLT) by 37.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,910 shares of the company’s stock after purchasing an additional 7,085 shares during the period. Sanctuary Advisors LLC’s holdings in Confluent were worth $764,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CFLT. EP Wealth Advisors LLC raised its position in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after purchasing an additional 503 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after buying an additional 1,136 shares during the period. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% during the fourth 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 period. Pacer Advisors Inc. raised its holdings in shares of Confluent by 36.4% in the fourth quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after acquiring an additional 1,619 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in Confluent by 6.8% in the third quarter. GSA Capital Partners LLP now owns 30,461 shares of the company’s stock worth $621,000 after acquiring an additional 1,938 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CFLT shares. Scotiabank raised their target price on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their price objective on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group upped their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Guggenheim lifted their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, TD Cowen boosted their price target on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

Insider Activity at Confluent

In other Confluent news, CFO Rohan Sivaram sold 68,350 shares of Confluent stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.23, for a total transaction of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares in the company, valued at approximately $18,849,490.79. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Erica Schultz sold 113,729 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41. Following the completion of the transaction, the insider now directly owns 502,424 shares of the company’s stock, valued at approximately $15,218,422.96. This trade represents a 18.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,429,105 shares of company stock worth $46,878,099 over the last three months. Company insiders own 13.82% of the company’s stock.

Confluent Trading Up 2.9 %

Shares of NASDAQ:CFLT opened at $31.69 on Friday. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92. The business has a 50-day moving average price of $29.93 and a 200-day moving average price of $26.24.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Equities analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

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.