Confluent, Inc. (NASDAQ:CFLT) Insider Sells $1,746,174.60 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the sale, the insider now owns 687,483 shares in the company, valued at approximately $18,837,034.20. This trade represents a 8.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Stock Performance

Confluent stock opened at $31.52 on Friday. The stock has a fifty day moving average price of $23.35 and a 200 day moving average price of $24.64. 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 52 week low of $17.79 and a 52 week high of $35.07. The firm has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82.

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

Analyst Upgrades and Downgrades

CFLT has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. DA Davidson reaffirmed a “buy” rating and issued a $30.00 target price on shares of Confluent in a report on Wednesday, September 18th. Wells Fargo & Company reduced their price target on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Citigroup upped their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Mizuho raised their price objective on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Hedge Funds Weigh In On Confluent

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its position in shares of Confluent by 19.6% in the 1st quarter. ProShare Advisors LLC now owns 11,719 shares of the company’s stock worth $358,000 after buying an additional 1,922 shares during the period. Blair William & Co. IL increased its stake in Confluent by 24.5% during the first quarter. Blair William & Co. IL now owns 17,800 shares of the company’s stock worth $543,000 after acquiring an additional 3,501 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Confluent in the 1st quarter worth about $370,000. Vanguard Group Inc. lifted its stake in shares of Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after purchasing an additional 669,675 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of Confluent by 8.7% during the 1st quarter. Edgestream Partners L.P. now owns 23,163 shares of the company’s stock worth $707,000 after purchasing an additional 1,850 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.