Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 157,890 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of Confluent stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.88, for a total value of $5,191,423.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total value 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 stock was sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Price Performance

Shares of NASDAQ:CFLT traded up $0.71 during mid-day trading on Monday, reaching $32.23. The company had a trading volume of 7,426,733 shares, compared to its average volume of 4,392,918. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $23.35 and its 200-day moving average price is $24.57.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $243.98 million. As a group, sell-side analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Trading of Confluent

A number of institutional investors have recently modified their holdings of CFLT. V Square Quantitative Management LLC bought a new stake in Confluent during the 2nd quarter valued at $68,000. UniSuper Management Pty Ltd grew its position in shares of Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Confluent during the 3rd quarter worth about $68,000. Finally, Lazard Asset Management LLC boosted its stake in Confluent by 25.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Stifel Nicolaus cut their price target on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Canaccord Genuity Group decreased their price objective on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Bank of America cut their target price on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Finally, Baird R W upgraded shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

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.