Fiera Capital Corp Makes New $21.13 Million Investment in Confluent, Inc. (NASDAQ:CFLT)

Fiera Capital Corp acquired a new stake in shares of Confluent, Inc. (NASDAQ:CFLT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,036,657 shares of the company’s stock, valued at approximately $21,127,000. Fiera Capital Corp owned about 0.32% of Confluent as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CFLT. Daiwa Securities Group Inc. grew its holdings in Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock valued at $369,000 after purchasing an additional 800 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after acquiring an additional 857 shares during the period. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Resolute Advisors LLC boosted its holdings in Confluent by 11.1% during the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock valued at $265,000 after acquiring an additional 869 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of Confluent by 15.0% in the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after purchasing an additional 1,064 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial restated a “buy” rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a research note on Tuesday, October 29th. Baird R W upgraded shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Sanford C. Bernstein decreased their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI cut their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Insider Activity

In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the transaction, the chief marketing officer now owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Confluent news, CMO Stephanie Buscemi sold 3,866 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total transaction of $83,814.88. Following the completion of the sale, the chief marketing officer now directly owns 161,673 shares of the company’s stock, valued at approximately $3,505,070.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $21.13, for a total transaction of $4,912,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $9,561,071.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,274,395 shares of company stock valued at $58,230,922 over the last three months. 13.82% of the stock is owned by insiders.

Confluent Trading Down 3.8 %

Shares of CFLT opened at $26.50 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market cap of $8.69 billion, a price-to-earnings ratio of -23.87 and a beta of 0.82. The stock has a fifty day moving average price of $21.51 and a two-hundred day moving average price of $24.65. Confluent, Inc. has a 52-week low of $16.69 and a 52-week high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Analysts predict that Confluent, Inc. will post -0.94 EPS 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.