Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 157,890 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $32.88, for a total transaction of $5,191,423.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• 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 shares were sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Performance

Shares of CFLT stock opened at $30.57 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a 50-day moving average of $23.79 and a 200-day moving average of $24.59. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a market cap of $10.03 billion, a P/E ratio of -27.54 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 the consensus estimate 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 firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Equities research analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CFLT. Truist Financial reaffirmed a “buy” rating and issued a $30.00 price objective (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Citigroup increased 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, Stifel Nicolaus dropped their price objective on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. 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 given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

Institutional Trading of Confluent

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