Erica Schultz Sells 150,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00. Following the sale, the insider now owns 678,016 shares of the company’s stock, valued at $24,286,533.12. The trade was a 18.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Trading Up 0.3 %

NASDAQ:CFLT traded up $0.09 during trading hours on Tuesday, hitting $34.94. 7,129,154 shares of the company were exchanged, compared to its average volume of 5,441,578. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of -31.48 and a beta of 0.92. The company has a fifty day simple moving average of $29.71 and a 200 day simple moving average of $25.63. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data 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 net margin of 38.35% and a negative return on equity of 34.05%. Sell-side analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Guggenheim increased their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Needham & Company LLC upped their price target on shares of Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays lifted their price objective on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI raised their price objective on Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Institutional Investors Weigh In On Confluent

Several large investors have recently added to or reduced their stakes in the business. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the 4th quarter valued at $28,000. Blue Trust Inc. increased its stake in Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Confluent during the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd bought a new stake in Confluent in the 3rd quarter valued at about $68,000. Finally, GAMMA Investing LLC raised its stake in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds 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.