Erica Schultz Sells 63,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $26.01, for a total transaction of $1,657,591.29. Following the sale, the insider now owns 697,039 shares in the company, valued at approximately $18,129,984.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, May 29th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $30.20, for a total value of $1,924,615.80.
• On Monday, May 20th, Erica Schultz sold 9,676 shares of Confluent stock. The shares were sold at an average price of $31.96, for a total transaction of $309,244.96.
• On Thursday, May 9th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.00, for a total value of $1,975,599.00.

Confluent Price Performance

Confluent stock traded up $0.29 during mid-day trading on Monday, reaching $26.07. 2,470,358 shares of the company were exchanged, compared to its average volume of 4,562,326. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average of $29.08 and a 200 day moving average of $27.51. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $41.22.

Confluent (NASDAQ:CFLT) last posted its earnings results on Tuesday, May 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Confluent had a negative net margin of 46.73% and a negative return on equity of 40.55%. The firm had revenue of $217.24 million for the quarter, compared to analysts’ expectations of $211.57 million. As a group, research analysts forecast that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent research reports. Barclays increased their price target on Confluent from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Truist Financial restated a “buy” rating and issued a $36.00 target price (up previously from $33.00) on shares of Confluent in a report on Wednesday, May 8th. Guggenheim upped their price target on shares of Confluent from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Oppenheimer assumed coverage on shares of Confluent in a research report on Friday, May 17th. They issued an “outperform” rating and a $37.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on Confluent from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.04.

Hedge Funds Weigh In On Confluent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. Hollencrest Capital Management acquired a new position in shares of Confluent in the first quarter valued at about $26,000. Rakuten Securities Inc. purchased a new stake in Confluent in the fourth quarter valued at approximately $31,000. Quest Partners LLC acquired a new position in Confluent in the 4th quarter worth approximately $31,000. GAMMA Investing LLC purchased a new position in Confluent during the 4th quarter worth approximately $35,000. Finally, UniSuper Management Pty Ltd acquired a new stake in Confluent during the 3rd quarter valued at approximately $36,000. Hedge funds and other 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.