Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick Sells 34,375 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick sold 34,375 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $30.57, for a total value of $1,050,843.75. Following the transaction, the director now directly owns 22,688 shares of the company’s stock, valued at $693,572.16. This trade represents a 60.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Confluent Trading Up 2.9 %

Confluent stock opened at $31.69 on Friday. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 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 firm’s 50 day moving average price is $29.93 and its two-hundred day moving average price is $26.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last issued its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of analyst reports. Bank of America boosted their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price target on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price objective on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company boosted their target price on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group raised their price target on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.15.

Institutional Trading of Confluent

A number of hedge funds have recently bought and sold shares of the company. Credit Industriel ET Commercial purchased a new position in shares of Confluent in the fourth quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new position in Confluent during the 4th quarter worth approximately $59,000. Point72 Hong Kong Ltd purchased a new position in Confluent during the 3rd quarter worth approximately $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 valued at $69,000 after purchasing an additional 1,136 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.