Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 541,850 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 541,850 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $30.32, for a total value of $16,428,892.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The shares were sold at an average price of $32.88, for a total value of $5,191,423.20.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The stock was sold at an average price of $28.90, for a total value 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 Stock Up 2.3 %

Shares of Confluent stock traded up $0.71 during midday trading on Monday, hitting $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 52-week low of $17.79 and a 52-week high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a 50 day moving average of $23.35 and a 200 day moving average of $24.57.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. On average, research analysts forecast that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CFLT shares. JPMorgan Chase & Co. upped their price target on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Hedge Funds Weigh In On Confluent

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

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.