Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 347,646 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 347,646 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $32.69, for a total transaction of $11,364,547.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Matthew Craig Miller also recently made the following trade(s):

• On Friday, December 6th, Matthew Craig Miller sold 53,512 shares of Confluent stock. The stock was sold at an average price of $33.64, for a total transaction of $1,800,143.68.
• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The stock was sold at an average price of $32.88, for a total transaction of $5,191,423.20.
• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Down 3.6 %

Shares of NASDAQ CFLT opened at $31.28 on Wednesday. The company has a market capitalization of $10.26 billion, a P/E ratio of -28.18 and a beta of 0.88. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. 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’s 50 day moving average price is $26.17 and its 200-day moving average price is $24.63.

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

Analysts Set New Price Targets

Several equities analysts have commented on CFLT shares. Citigroup raised their target price on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. UBS Group raised their target price on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Sanford C. Bernstein reduced their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, TD Cowen raised 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.23.

Institutional Trading of Confluent

Several hedge funds have recently modified their holdings of CFLT. V Square Quantitative Management LLC bought a new stake in shares of Confluent in the 2nd quarter valued at $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at $68,000. Acadian Asset Management LLC bought a new stake in shares of Confluent in the 2nd quarter valued at $175,000. Plato Investment Management Ltd increased its stake in shares of Confluent by 2,184.1% in the 2nd quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after acquiring an additional 6,312 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Confluent during the 3rd quarter valued at $214,000. 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.