Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 34,375 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick sold 34,375 shares of the business’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 transaction of $1,050,843.75. Following the transaction, the director now directly owns 22,688 shares in the company, valued at $693,572.16. The trade was a 60.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Confluent Stock Up 2.9 %

CFLT opened at $31.69 on Friday. The business has a 50 day moving average of $29.93 and a 200-day moving average of $26.24. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. As a group, sell-side analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on CFLT. Scotiabank boosted their price target on shares of Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Robert W. Baird upped their target price on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Bank of America boosted their price target on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus raised their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.15.

Institutional Investors Weigh In On Confluent

Institutional investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial acquired a new position in Confluent in the 4th quarter valued at approximately $28,000. Blue Trust Inc. increased its position in shares of Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Confluent in the fourth quarter valued at $59,000. GAMMA Investing LLC lifted its position in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Confluent during the third quarter worth $68,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.