Fiera Capital Corp Has $28.42 Million Holdings in Confluent, Inc. (NASDAQ:CFLT)

Fiera Capital Corp trimmed its stake in Confluent, Inc. (NASDAQ:CFLT) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,016,453 shares of the company’s stock after selling 20,204 shares during the period. Fiera Capital Corp’s holdings in Confluent were worth $28,420,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CFLT. Blue Trust Inc. grew its position in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after buying an additional 1,607 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Confluent in the third quarter worth approximately $68,000. GAMMA Investing LLC boosted its holdings in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares during the last quarter. Pacer Advisors Inc. increased its position in Confluent by 36.4% during the 4th quarter. Pacer Advisors Inc. now owns 6,068 shares of the company’s stock valued at $170,000 after purchasing an additional 1,619 shares during the period. Finally, DMC Group LLC acquired a new position in shares of Confluent in the 4th quarter worth approximately $201,000. 78.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Erica Schultz sold 9,467 shares of Confluent stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41. Following the sale, the insider now directly owns 678,016 shares in the company, valued at $19,140,391.68. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kong Phan sold 2,096 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $59,170.08. Following the transaction, the chief accounting officer now owns 190,680 shares of the company’s stock, valued at approximately $5,382,896.40. The trade was a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,508,636 shares of company stock valued at $47,198,798. Insiders own 13.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays raised their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial boosted their price target on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho increased their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Confluent has an average rating of “Moderate Buy” and an average target price of $35.00.

Confluent Stock Down 3.8 %

CFLT opened at $36.23 on Friday. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The firm has a market capitalization of $11.88 billion, a P/E ratio of -32.64 and a beta of 0.92. The company’s 50-day moving average is $29.64 and its 200 day moving average is $25.45. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

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.