Matthew Craig Miller Sells 157,890 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $32.88, for a total transaction of $5,191,423.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $16,428,892.00.
• 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 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 transaction of $29,359,827.42.

Confluent Stock Up 2.3 %

Shares of CFLT opened at $32.23 on Tuesday. The firm has a market capitalization of $10.57 billion, a P/E ratio of -29.04 and a beta of 0.82. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07. The firm has a fifty day moving average price of $23.58 and a 200-day moving average price of $24.58. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Confluent by 521.0% in the 3rd quarter. Tidal Investments LLC now owns 50,545 shares of the company’s stock worth $1,030,000 after buying an additional 42,406 shares during the period. Sanctuary Advisors LLC grew its holdings in Confluent by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,825 shares of the company’s stock worth $384,000 after acquiring an additional 3,298 shares in the last quarter. Westside Investment Management Inc. increased its position in Confluent by 11,796.1% during the 3rd quarter. Westside Investment Management Inc. now owns 12,253 shares of the company’s stock valued at $250,000 after purchasing an additional 12,150 shares during the period. Geode Capital Management LLC increased its position in Confluent by 2.5% during the 3rd 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, Y Intercept Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at about $634,000. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CFLT has been the topic of a number of research reports. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft reduced their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Bank of America dropped their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Evercore ISI reduced their price objective on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Finally, Mizuho increased their target price on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

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.