72,515 Shares in Confluent, Inc. (NASDAQ:CFLT) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new position in Confluent, Inc. (NASDAQ:CFLT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 72,515 shares of the company’s stock, valued at approximately $2,028,000.

A number of other institutional investors have also recently bought and sold shares of CFLT. Commonwealth Equity Services LLC increased its stake in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after purchasing an additional 458 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Confluent by 3.6% during the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after acquiring an additional 503 shares in the last quarter. Truist Financial Corp grew its position in shares of Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after purchasing an additional 514 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Confluent by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,281 shares of the company’s stock worth $472,000 after purchasing an additional 1,137 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CFLT. Wells Fargo & Company upped their price target on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Guggenheim upped their price target on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Evercore ISI lifted their price objective on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial upped their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Piper Sandler boosted their price objective on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.33.

Confluent Trading Down 1.5 %

NASDAQ:CFLT opened at $25.57 on Friday. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of -23.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The business has a fifty day moving average price of $29.40 and a 200-day moving average price of $27.11. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) 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%. Sell-side analysts forecast that Confluent, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling

In other news, CFO Rohan Sivaram sold 68,350 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.23, for a total value of $2,476,320.50. Following the completion of the transaction, the chief financial officer now owns 520,273 shares of the company’s stock, valued at $18,849,490.79. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Kong Phan sold 3,175 shares of Confluent stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $26.86, for a total value of $85,280.50. Following the sale, the chief accounting officer now directly owns 246,516 shares in the company, valued at $6,621,419.76. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,200,746 shares of company stock valued at $38,505,150. 13.82% of the stock is owned by corporate insiders.

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.