Confluent, Inc. (NASDAQ:CFLT) Director Sells $12,622,712.32 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 477,952 shares of Confluent stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $26.41, for a total value of $12,622,712.32. Following the sale, the director now owns 317,079 shares in the company, valued at $8,374,056.39. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michelangelo Volpi also recently made the following trade(s):

• On Friday, November 1st, Michelangelo Volpi sold 50,000 shares of Confluent stock. The shares were sold at an average price of $25.92, for a total value of $1,296,000.00.

Confluent Trading Down 3.8 %

Shares of CFLT stock opened at $26.50 on Friday. The company has a market cap of $8.69 billion, a PE ratio of -23.87 and a beta of 0.82. 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 stock’s 50 day simple moving average is $21.62 and its two-hundred day simple moving average is $24.62. Confluent, Inc. has a 1 year low of $16.69 and a 1 year high of $35.07.

Confluent (NASDAQ:CFLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Research analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CFLT has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Barclays increased their target price on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their price target on Confluent from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America dropped their price objective on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC purchased a new stake in Confluent in the second quarter worth $193,403,000. 1832 Asset Management L.P. purchased a new stake in shares of Confluent in the first quarter valued at approximately $181,075,000. Champlain Investment Partners LLC bought a new position in Confluent in the first quarter worth approximately $144,563,000. Price T Rowe Associates Inc. MD raised its position in Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Confluent by 60.0% during the 2nd 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 in the last quarter. Institutional investors 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.