Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi Sells 477,952 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 477,952 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $26.41, for a total transaction of $12,622,712.32. Following the completion of the sale, the director now directly owns 317,079 shares of the company’s stock, valued at $8,374,056.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Michelangelo Volpi also recently made the following trade(s):

• On Friday, November 1st, Michelangelo Volpi sold 50,000 shares of Confluent stock. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00.

Confluent Trading Up 1.6 %

NASDAQ CFLT opened at $27.56 on Friday. Confluent, Inc. has a 1 year low of $16.69 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The company has a market capitalization of $9.04 billion, a PE ratio of -24.83 and a beta of 0.82. The company has a fifty day moving average of $21.38 and a 200 day moving average of $24.63.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Research analysts forecast that Confluent, Inc. will post -0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CFLT shares. Mizuho lifted their price target on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Baird R W upgraded shares of Confluent to a “hold” rating in a report on Wednesday, September 4th. Wells Fargo & Company decreased their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Scotiabank lifted their price objective on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Citigroup increased their target price on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in Confluent in the 2nd quarter valued at $68,000. UniSuper Management Pty Ltd grew its holdings in shares of Confluent by 125.0% during the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Confluent by 40.3% during the first 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. Lazard Asset Management LLC raised its holdings in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after buying an additional 1,167 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in Confluent in the second quarter valued at about $175,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Confluent Company 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.