Confluent, Inc. (NASDAQ:CFLT) Director Sells $16,428,892.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 541,850 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $30.32, for a total value of $16,428,892.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The shares were sold at an average price of $32.88, for a total transaction of $5,191,423.20.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Performance

Shares of CFLT traded up $0.71 during midday trading on Monday, reaching $32.23. 7,426,733 shares of the stock were exchanged, compared to its average volume of 4,392,918. The business’s 50-day moving average price is $23.35 and its 200 day moving average price is $24.57. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $35.07.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their target price on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wolfe Research raised Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company reduced their price objective 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. Finally, Robert W. Baird upped 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Champlain Investment Partners LLC raised its stake in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares during the last quarter. 1832 Asset Management L.P. raised its position in Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after buying an additional 1,684,100 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Confluent in the 2nd quarter worth $193,403,000. Geode Capital Management LLC boosted its holdings in shares of Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after acquiring an additional 1,316,804 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.