Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 113,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 113,729 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41. Following the completion of the transaction, the insider now directly owns 502,424 shares in the company, valued at approximately $15,218,422.96. This trade represents a 18.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total value of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total value of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $30.44 on Wednesday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $9.98 billion, a P/E ratio of -28.19 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock has a 50 day moving average of $29.84 and a 200-day moving average of $26.17.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. As a group, equities research analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Investors Weigh In On Confluent

Several hedge funds have recently added to or reduced their stakes in CFLT. Champlain Investment Partners LLC lifted its holdings in Confluent by 72.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after purchasing an additional 4,486,841 shares during the last quarter. Norges Bank acquired a new stake in Confluent during the 4th quarter valued at $81,092,000. Pictet Asset Management Holding SA lifted its holdings in Confluent by 7,342.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after purchasing an additional 2,319,919 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Confluent during the 4th quarter valued at $64,658,000. Finally, Fiera Capital Corp acquired a new stake in Confluent during the 3rd quarter valued at $21,127,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their price objective on Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised their price objective on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. UBS Group lifted their price target on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Piper Sandler upped their price objective on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.