Confluent, Inc. (NASDAQ:CFLT) Insider Sells $1,746,174.60 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the transaction, the insider now owns 687,483 shares in the company, valued at $18,837,034.20. This represents a 8.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Confluent Stock Performance

Shares of CFLT stock opened at $30.58 on Friday. The business has a fifty day moving average of $23.12 and a 200 day moving average of $24.62. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of -27.55 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

CFLT has been the topic of several research reports. Evercore ISI reduced their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bank of America lowered their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. TD Cowen raised their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Finally, Wolfe Research raised shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Institutional Trading of Confluent

Several large investors have recently made changes to their positions in CFLT. William Blair Investment Management LLC acquired a new position in Confluent during the second quarter valued at $193,403,000. 1832 Asset Management L.P. purchased a new position in shares of Confluent during the 1st quarter valued at about $181,075,000. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after buying an additional 2,587,169 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after acquiring an additional 1,316,804 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.