Confluent, Inc. (NASDAQ:CFLT) Insider Sells $3,444,851.41 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 113,729 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $30.29, for a total transaction of $3,444,851.41. Following the sale, the insider now directly owns 502,424 shares in the company, valued at $15,218,422.96. This represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total transaction of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $34.75, for a total transaction of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.65 during mid-day trading on Tuesday, reaching $30.44. 5,460,988 shares of the company were exchanged, compared to its average volume of 5,662,908. The company’s 50-day simple moving average is $29.86 and its 200-day simple moving average is $26.10. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $9.98 billion, a P/E ratio of -28.19 and a beta of 0.92. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90.

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 34.70% and a negative net margin of 35.81%. As a group, research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. TD Cowen increased their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Confluent in a report on Tuesday, October 29th. Finally, Truist Financial increased their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One 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 stock. According to data from MarketBeat, Confluent has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently bought and sold shares of the business. Credit Industriel ET Commercial acquired a new stake in Confluent in the 4th quarter worth about $28,000. Blue Trust Inc. raised its stake in Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Confluent in the 4th quarter worth about $59,000. Point72 Hong Kong Ltd acquired a new stake in Confluent in the 3rd quarter worth about $68,000. Finally, GAMMA Investing LLC raised its stake in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $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.

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.