Centaurus Financial Inc. Trims Holdings in Confluent, Inc. (NASDAQ:CFLT)

Centaurus Financial Inc. trimmed its holdings in shares of Confluent, Inc. (NASDAQ:CFLT) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,528 shares of the company’s stock after selling 792 shares during the quarter. Centaurus Financial Inc.’s holdings in Confluent were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CFLT. V Square Quantitative Management LLC purchased a new position in Confluent during the second quarter worth about $68,000. Advisors Asset Management Inc. grew its position in Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares in the last quarter. Lazard Asset Management LLC grew its position in Confluent by 25.5% during the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Confluent during the second quarter worth about $175,000. Finally, Plato Investment Management Ltd lifted its stake in Confluent by 2,184.1% during the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock worth $195,000 after purchasing an additional 6,312 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Confluent Stock Down 2.3 %

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

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $243.98 million. As a group, analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. Baird R W raised Confluent to a “hold” rating in a research note on Wednesday, September 4th. Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group lifted 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. Finally, Barclays lifted their price target on Confluent from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus target price of $30.88.

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 stock was sold at an average price of $28.90, for a total value of $31,335,085.10. Following the sale, the director now owns 12,559 shares in the company, valued at $362,955.10. This represents a 98.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Stephanie Buscemi sold 26,047 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.89, for a total value of $856,685.83. Following the completion of the sale, the chief marketing officer now owns 144,373 shares in the company, valued at $4,748,427.97. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,237,879 shares of company stock worth $118,823,850. Company insiders own 13.82% of the company’s stock.

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.