Confluent, Inc. (NASDAQ:CFLT) Insider Sells $2,013,836.40 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at $21,425,305.60. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Erica Schultz also recently made the following trade(s):

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $267,253.41.
• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Stock Performance

CFLT stock opened at $30.84 on Friday. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of -27.78 and a beta of 0.82. 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 firm has a 50-day simple moving average of $24.40 and a two-hundred day simple moving average of $24.68.

Confluent (NASDAQ:CFLT) last posted its 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. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. On average, equities analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Baird R W upgraded shares of Confluent to a “hold” rating in a report on Wednesday, September 4th. Evercore ISI decreased their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Mizuho upped their target price on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research note on Tuesday, October 29th. Finally, Barclays upped their price objective on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CFLT. William Blair Investment Management LLC purchased a new stake in Confluent in the second quarter valued at about $193,403,000. Champlain Investment Partners LLC increased its holdings in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Confluent by 28.4% during the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Confluent by 60.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after purchasing an additional 1,316,804 shares during the last quarter. Finally, Fiera Capital Corp acquired a new stake in Confluent in the 3rd quarter worth approximately $21,127,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.