Intellectus Partners LLC Sells 17,277 Shares of Confluent, Inc. $CFLT

Intellectus Partners LLC lowered its holdings in Confluent, Inc. (NASDAQ:CFLT) by 29.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,200 shares of the company’s stock after selling 17,277 shares during the quarter. Intellectus Partners LLC’s holdings in Confluent were worth $816,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Confluent by 11.3% during the third quarter. Dimensional Fund Advisors LP now owns 190,973 shares of the company’s stock worth $3,781,000 after buying an additional 19,461 shares during the last quarter. Rock Point Advisors LLC grew its stake in shares of Confluent by 62.6% in the third quarter. Rock Point Advisors LLC now owns 158,367 shares of the company’s stock worth $3,136,000 after acquiring an additional 60,975 shares during the last quarter. Cresset Asset Management LLC increased its position in Confluent by 3.3% during the third quarter. Cresset Asset Management LLC now owns 160,513 shares of the company’s stock worth $3,178,000 after acquiring an additional 5,072 shares during the period. CI Investments Inc. increased its position in Confluent by 205,268.3% during the third quarter. CI Investments Inc. now owns 895,406 shares of the company’s stock worth $17,729,000 after acquiring an additional 894,970 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Confluent during the 3rd quarter valued at $288,000. 78.09% of the stock is owned by institutional investors.

Confluent Trading Down 0.1%

Shares of Confluent stock opened at $30.77 on Friday. The firm has a market capitalization of $11.00 billion, a PE ratio of -35.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.83 and a quick ratio of 3.83. The company’s fifty day moving average price is $30.50 and its two-hundred day moving average price is $25.43. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $30.81.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $314.82 million during the quarter, compared to analysts’ expectations of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. On average, analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on CFLT shares. Truist Financial set a $31.00 price target on shares of Confluent in a report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Confluent in a report on Monday, December 29th. Citizens Jmp lowered shares of Confluent from an “outperform” rating to a “market perform” rating in a research report on Friday, January 9th. Evercore set a $31.00 target price on shares of Confluent in a research note on Monday, December 8th. Finally, Sanford C. Bernstein downgraded Confluent from an “outperform” rating to a “market perform” rating and set a $31.00 target price on the stock. in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twenty-eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.71.

Insiders Place Their Bets

In related news, Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.59, for a total value of $764,750.00. Following the completion of the transaction, the director owned 155,512 shares of the company’s stock, valued at $4,757,112.08. This represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Edward Jay Kreps sold 270,207 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $30.70, for a total transaction of $8,295,354.90. Following the transaction, the chief executive officer owned 301,660 shares of the company’s stock, valued at approximately $9,260,962. This represents a 47.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,501,830 shares of company stock valued at $45,389,931 over the last 90 days. Company insiders own 9.20% of the company’s stock.

Confluent Profile

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.