Confluent, Inc. (NASDAQ:CFLT) Insider Sells $2,018,934.72 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $31.68, for a total value of $2,018,934.72. Following the transaction, the insider now owns 678,016 shares in the company, valued at $21,479,546.88. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• 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 transaction of $267,253.41.
• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Stock Down 2.7 %

Shares of NASDAQ CFLT opened at $30.49 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm has a 50-day simple moving average of $26.86 and a two-hundred day simple moving average of $24.73. The company has a market cap of $10.00 billion, a P/E ratio of -27.47 and a beta of 0.88. 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 issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CFLT. Mizuho upped their target price on shares of Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company lifted their target price on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. DA Davidson restated a “buy” rating and issued a $30.00 price target on shares of Confluent in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price objective on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup upped their target price on shares of Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.04.

Institutional Trading of Confluent

Large investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC increased its stake in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares during the period. 1832 Asset Management L.P. increased its position in shares of Confluent by 28.4% during the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after acquiring an additional 1,684,100 shares during the period. William Blair Investment Management LLC bought a new stake in shares of Confluent during the second quarter valued at approximately $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 purchasing an additional 107,510 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Confluent by 60.0% in 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 purchasing an additional 1,316,804 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.