Michelangelo Volpi Sells 25,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $36.22, for a total value of $905,500.00. Following the completion of the sale, the director now directly owns 292,079 shares of the company’s stock, valued at $10,579,101.38. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Confluent Stock Performance

CFLT stock traded up $0.09 during trading hours on Tuesday, hitting $34.94. 7,129,154 shares of the stock were exchanged, compared to its average volume of 5,441,578. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. The company has a 50-day simple moving average of $29.71 and a two-hundred day simple moving average of $25.63.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Confluent

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CFLT. Evercore ISI lifted their price target on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. boosted their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Mizuho raised their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JMP Securities restated a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their price target on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.