Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 25,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the sale, the director now directly owns 292,079 shares in the company, valued at $10,579,101.38. The trade was a 7.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Confluent Price Performance

Shares of NASDAQ CFLT traded up $0.09 during mid-day trading on Tuesday, hitting $34.94. 7,129,154 shares of the company’s stock traded hands, compared to its average volume of 5,441,578. The company has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90. The company’s 50-day moving average is $29.71 and its two-hundred day moving average is $25.63. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on CFLT shares. Mizuho boosted their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Piper Sandler increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada upped their price objective on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays upped their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Sanford C. Bernstein dropped their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Hedge Funds Weigh In On Confluent

Several hedge funds have recently modified their holdings of the stock. Creative Planning boosted its holdings in shares of Confluent by 109.9% in the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Confluent by 14.0% during the 3rd quarter. Lake Street Advisors Group LLC now owns 18,481 shares of the company’s stock worth $377,000 after buying an additional 2,263 shares during the period. US Bancorp DE grew its position in shares of Confluent by 307.7% in the third quarter. US Bancorp DE now owns 16,702 shares of the company’s stock valued at $340,000 after purchasing an additional 12,605 shares during the period. Janney Capital Management LLC increased its stake in Confluent by 52.2% during the 3rd quarter. Janney Capital Management LLC now owns 19,946 shares of the company’s stock worth $406,000 after buying an additional 6,842 shares in the last quarter. Finally, Fiera Capital Corp purchased a new position in Confluent in the 3rd quarter valued at $21,127,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.