Trivest Advisors Ltd Invests $11.99 Million in Confluent, Inc. (NASDAQ:CFLT)

Trivest Advisors Ltd purchased a new position in shares of Confluent, Inc. (NASDAQ:CFLT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 428,800 shares of the company’s stock, valued at approximately $11,989,000. Trivest Advisors Ltd owned about 0.13% of Confluent as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CFLT. Champlain Investment Partners LLC grew its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Confluent by 46.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,513,426 shares of the company’s stock worth $51,224,000 after buying an additional 802,353 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Confluent in the 4th quarter valued at $20,061,000. Savant Capital LLC bought a new position in shares of Confluent in the 4th quarter worth $10,607,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Confluent during the 3rd quarter worth $7,646,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Edward Jay Kreps sold 232,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $13,285,047.68. The trade was a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kong Phan sold 3,947 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $28.74, for a total transaction of $113,436.78. Following the transaction, the chief accounting officer now owns 179,939 shares of the company’s stock, valued at approximately $5,171,446.86. This trade represents a 2.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,201,518 shares of company stock worth $38,533,306. 13.82% of the stock is owned by corporate insiders.

Confluent Stock Down 3.1 %

Shares of CFLT stock opened at $26.36 on Wednesday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The stock has a market cap of $8.80 billion, a P/E ratio of -24.41 and a beta of 0.90. The stock has a 50 day moving average of $29.56 and a 200 day moving average of $26.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CFLT. Barclays lifted their target price on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Confluent in a research report on Friday, March 7th. Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. Finally, William Blair reiterated an “outperform” rating on shares of Confluent in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.33.

Confluent Company 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.