Confluent, Inc. (NASDAQ:CFLT) CTO Sells $378,677.22 in Stock

Confluent, Inc. (NASDAQ:CFLT) CTO Chad Verbowski sold 13,414 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the completion of the transaction, the chief technology officer now owns 483,393 shares of the company’s stock, valued at $13,646,184.39. The trade was a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Confluent Price Performance

CFLT stock opened at $31.52 on Monday. 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’s 50-day moving average is $23.35 and its 200-day moving average is $24.57. The stock has a market capitalization of $10.34 billion, a PE ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities research analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CFLT shares. Stifel Nicolaus lowered their target price on Confluent from $40.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Bank of America lowered their price objective on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Citigroup lifted their target price on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, DA Davidson reiterated a “buy” rating and set a $30.00 price target on shares of Confluent in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Confluent in the second quarter valued at $68,000. UniSuper Management Pty Ltd raised its holdings in shares of Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Confluent during the 3rd quarter valued at about $68,000. Finally, Lazard Asset Management LLC increased its holdings in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors own 78.09% 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.