Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells $2,214,582.75 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75. Following the completion of the transaction, the insider now owns 678,016 shares of the company’s stock, valued at $23,561,056. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were 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 shares were 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.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Price Performance

Confluent stock opened at $32.54 on Friday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company’s 50 day moving average price is $29.85 and its two-hundred day moving average price is $25.84. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The stock has a market cap of $10.67 billion, a P/E ratio of -30.13 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 35.45% and a negative net margin of 35.81%. On average, equities analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stifel Nicolaus raised their target price on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Mizuho lifted their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised their target price on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Institutional Investors Weigh In On Confluent

Hedge funds have recently modified their holdings of the stock. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the 4th quarter worth approximately $28,000. Blue Trust Inc. raised its holdings in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Confluent in the 4th quarter worth approximately $59,000. GAMMA Investing LLC raised its holdings in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter worth approximately $68,000. Institutional investors 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.