Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps Sells 232,500 Shares

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at approximately $14,628,937.04. This represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Confluent Stock Up 0.3 %

NASDAQ CFLT opened at $31.09 on Tuesday. The stock’s 50-day moving average price is $29.86 and its 200-day moving average price is $26.10. The company has a market capitalization of $10.20 billion, a P/E ratio of -28.79 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90.

Confluent (NASDAQ:CFLT) last released its 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 34.70% and a negative net margin of 35.81%. On average, equities research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CFLT. Credit Industriel ET Commercial bought a new stake in Confluent during the fourth quarter valued at about $28,000. Blue Trust Inc. grew its position in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Confluent during the fourth quarter worth about $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent during the 3rd quarter valued at approximately $68,000. Finally, GAMMA Investing LLC lifted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and set a $40.00 target price on shares of Confluent in a research note on Tuesday, October 29th. Evercore ISI boosted their price target on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Barclays increased their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC lifted their price objective on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

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.