Confluent, Inc. $CFLT Shares Sold by Triumph Capital Management

Triumph Capital Management lessened its stake in shares of Confluent, Inc. (NASDAQ:CFLT) by 87.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,750 shares of the company’s stock after selling 40,800 shares during the quarter. Triumph Capital Management’s holdings in Confluent were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CFLT. Quarry LP acquired a new stake in shares of Confluent during the 3rd quarter worth about $26,000. Danske Bank A S acquired a new position in shares of Confluent in the third quarter valued at approximately $34,000. True Wealth Design LLC acquired a new position in shares of Confluent in the third quarter valued at approximately $36,000. Ramirez Asset Management Inc. purchased a new position in shares of Confluent during the third quarter valued at approximately $40,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Confluent during the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Confluent and gave the stock a “hold” rating in a research note on Monday, December 8th. Oppenheimer lowered Confluent from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Raymond James Financial cut Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. DA Davidson reaffirmed a “neutral” rating and issued a $31.00 price objective (up from $29.00) on shares of Confluent in a research report on Monday, December 8th. Finally, Royal Bank Of Canada lowered Confluent from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $30.00 to $31.00 in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twenty-eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Confluent has an average rating of “Hold” and a consensus target price of $28.71.

Confluent Price Performance

Shares of NASDAQ:CFLT opened at $30.99 on Friday. The stock has a 50-day simple moving average of $30.63 and a 200-day simple moving average of $26.24. The stock has a market capitalization of $11.08 billion, a P/E ratio of -36.03 and a beta of 0.95. Confluent, Inc. has a 1 year low of $15.64 and a 1 year high of $31.00. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.83 and a current ratio of 3.83.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $314.82 million for the quarter, compared to analyst estimates of $308.03 million. Confluent had a negative net margin of 25.31% and a negative return on equity of 22.66%. Confluent’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Rohan Sivaram sold 29,996 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $30.67, for a total value of $919,977.32. Following the transaction, the chief financial officer owned 531,971 shares of the company’s stock, valued at approximately $16,315,550.57. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Kong Phan sold 2,277 shares of Confluent stock in a transaction on Friday, February 20th. The shares were sold at an average price of $30.70, for a total transaction of $69,903.90. Following the transaction, the chief accounting officer owned 218,228 shares in the company, valued at $6,699,599.60. The trade was a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 534,745 shares of company stock valued at $16,388,405. 9.20% of the stock is owned by corporate insiders.

About Confluent

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.