Confluent, Inc. $CFLT Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in Confluent, Inc. (NASDAQ:CFLT) by 11.1% during the 3rd quarter, Holdings Channel reports. The fund owned 8,569,807 shares of the company’s stock after selling 1,069,295 shares during the period. William Blair Investment Management LLC’s holdings in Confluent were worth $169,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CFLT. Xponance Inc. lifted its position in Confluent by 1.8% during the third quarter. Xponance Inc. now owns 40,399 shares of the company’s stock valued at $800,000 after purchasing an additional 723 shares during the period. AlphaQuest LLC raised its stake in shares of Confluent by 21.7% during the 2nd quarter. AlphaQuest LLC now owns 4,636 shares of the company’s stock valued at $116,000 after buying an additional 826 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Confluent by 8.7% in the 3rd quarter. Perigon Wealth Management LLC now owns 10,775 shares of the company’s stock valued at $213,000 after buying an additional 866 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Confluent by 7.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,880 shares of the company’s stock valued at $346,000 after buying an additional 993 shares during the period. Finally, New York Life Investment Management LLC boosted its stake in shares of Confluent by 5.0% in the second quarter. New York Life Investment Management LLC now owns 27,134 shares of the company’s stock worth $676,000 after buying an additional 1,291 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Insiders Place Their Bets

In related news, Director Neha Narkhede sold 80,000 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $30.59, for a total value of $2,447,200.00. Following the completion of the sale, the director owned 28,549 shares of the company’s stock, valued at approximately $873,313.91. This trade represents a 73.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Ban Ryan Norris Mac sold 44,114 shares of Confluent stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $29.77, for a total value of $1,313,273.78. Following the transaction, the executive owned 336,950 shares in the company, valued at approximately $10,031,001.50. The trade was a 11.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,539,830 shares of company stock worth $46,231,391. 9.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on CFLT. Evercore set a $31.00 price target on Confluent in a report on Monday, December 8th. Needham & Company LLC lowered shares of Confluent from a “buy” rating to a “hold” rating in a report on Monday, December 8th. William Blair cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Oppenheimer downgraded shares of Confluent from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Finally, UBS Group cut shares of Confluent from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $29.00 to $31.00 in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Confluent currently has an average rating of “Hold” and an average target price of $28.71.

Confluent Trading Up 0.1%

Shares of CFLT opened at $30.67 on Friday. Confluent, Inc. has a 52-week low of $15.64 and a 52-week high of $32.63. The stock has a market cap of $10.97 billion, a PE ratio of -35.66 and a beta of 0.95. The firm’s fifty day moving average is $30.43 and its two-hundred day moving average is $24.97. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.94.

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

Confluent Company 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.