Pursue Wealth Partners LLC Sells 26,462 Shares of Confluent, Inc. (NASDAQ:CFLT)

Pursue Wealth Partners LLC reduced its holdings in Confluent, Inc. (NASDAQ:CFLT) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,464 shares of the company’s stock after selling 26,462 shares during the quarter. Confluent comprises 1.6% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 20th largest position. Pursue Wealth Partners LLC’s holdings in Confluent were worth $2,468,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Avestar Capital LLC lifted its stake in shares of Confluent by 3.3% in the 3rd quarter. Avestar Capital LLC now owns 11,466 shares of the company’s stock valued at $340,000 after purchasing an additional 370 shares during the period. Xponance Inc. lifted its stake in shares of Confluent by 1.7% in the 3rd quarter. Xponance Inc. now owns 26,427 shares of the company’s stock valued at $783,000 after purchasing an additional 440 shares during the period. Fifth Third Bancorp lifted its stake in shares of Confluent by 5.0% in the 4th quarter. Fifth Third Bancorp now owns 11,703 shares of the company’s stock valued at $274,000 after purchasing an additional 556 shares during the period. Rhumbline Advisers lifted its stake in shares of Confluent by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 243,828 shares of the company’s stock valued at $7,220,000 after purchasing an additional 629 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Confluent by 6.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,300 shares of the company’s stock valued at $264,000 after buying an additional 700 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

Confluent Price Performance

NASDAQ:CFLT traded up $0.86 during mid-day trading on Friday, hitting $29.75. 3,833,529 shares of the company traded hands, compared to its average volume of 2,989,482. The stock’s fifty day moving average price is $30.92 and its 200-day moving average price is $26.36. Confluent, Inc. has a one year low of $14.69 and a one year high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.62 and a current ratio of 4.62.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, February 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Confluent had a negative net margin of 56.99% and a negative return on equity of 44.16%. The company had revenue of $213.18 million for the quarter, compared to the consensus estimate of $204.62 million. Analysts predict that Confluent, Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the subject of a number of recent research reports. JMP Securities lifted their price objective on Confluent from $25.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, February 8th. Barclays lifted their price objective on Confluent from $26.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. lifted their price objective on Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Mizuho lowered their price objective on Confluent from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Finally, Needham & Company LLC boosted their price target on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.64.

Insider Buying and Selling at Confluent

In other news, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Ying Christina Liu sold 4,109 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.15, for a total value of $132,104.35. Following the completion of the transaction, the chief accounting officer now owns 123,497 shares of the company’s stock, valued at $3,970,428.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $31.75, for a total value of $2,023,395.75. Following the completion of the transaction, the insider now directly owns 479,537 shares of the company’s stock, valued at approximately $15,225,299.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,433,170 shares of company stock valued at $46,438,029. Company insiders own 22.08% of the company’s stock.

About Confluent

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.