Cwm LLC Sells 1,502 Shares of Confluent, Inc. (NASDAQ:CFLT)

Cwm LLC reduced its position in Confluent, Inc. (NASDAQ:CFLT) by 14.9% during the third quarter, HoldingsChannel reports. The fund owned 8,597 shares of the company’s stock after selling 1,502 shares during the quarter. Cwm LLC’s holdings in Confluent were worth $175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Confluent by 3.5% in the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after purchasing an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after acquiring an additional 2,587,169 shares during the period. 1832 Asset Management L.P. raised its holdings in Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Confluent during the second quarter worth $193,403,000. Finally, Champlain Investment Partners LLC bought a new position in shares of Confluent in the first quarter worth $144,563,000. 78.09% of the stock is currently owned by institutional investors.

Insider Transactions at Confluent

In other news, CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $9,045,235.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rohan Sivaram sold 22,926 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $21.68, for a total transaction of $497,035.68. Following the completion of the sale, the chief financial officer now owns 555,337 shares of the company’s stock, valued at $12,039,706.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $4,647,675.00. Following the completion of the transaction, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $9,045,235.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,453 shares of company stock valued at $10,833,388 in the last three months. 13.82% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CFLT has been the subject of several analyst reports. Evercore ISI cut their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Truist Financial reaffirmed a “buy” rating and set a $30.00 price objective (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Confluent in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $23.00 target price on the stock. Citigroup reduced their price target on shares of Confluent from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company decreased their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus price target of $29.79.

Confluent Stock Down 3.2 %

Shares of NASDAQ CFLT opened at $21.28 on Thursday. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.25. The firm’s fifty day moving average is $20.77 and its 200 day moving average is $24.95. The company has a market cap of $6.76 billion, a price-to-earnings ratio of -17.02 and a beta of 0.88. Confluent, Inc. has a 52 week low of $14.69 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Confluent had a negative net margin of 42.70% and a negative return on equity of 37.78%. The firm had revenue of $234.99 million for the quarter, compared to the consensus estimate of $229.49 million. On average, equities research analysts expect that Confluent, Inc. will post -0.95 earnings per share for the current year.

Confluent 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.