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

Fiera Capital Corp purchased a new stake in Confluent, Inc. (NASDAQ:CFLT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,036,657 shares of the company’s stock, valued at approximately $21,127,000.

A number of other hedge funds have also modified their holdings of CFLT. Daiwa Securities Group Inc. raised its holdings in Confluent by 7.1% in the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company’s stock worth $369,000 after purchasing an additional 800 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock valued at $322,000 after buying an additional 857 shares in the last quarter. Advisors Asset Management Inc. raised its stake 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 buying an additional 859 shares during the period. Resolute Advisors LLC lifted its holdings in Confluent by 11.1% during the first quarter. Resolute Advisors LLC now owns 8,693 shares of the company’s stock worth $265,000 after acquiring an additional 869 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in 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 acquiring an additional 1,064 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Trading Down 3.8 %

CFLT stock opened at $26.50 on Friday. Confluent, Inc. has a one year low of $16.69 and a one year high of $35.07. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of -23.87 and a beta of 0.82. The company has a fifty day moving average price of $21.51 and a two-hundred day moving average price of $24.65. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Equities analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CFLT shares. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. TD Cowen lifted their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.88.

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.