Edward Jay Kreps Sells 232,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.29, for a total transaction of $6,809,925.00. Following the transaction, the chief executive officer now owns 452,488 shares in the company, valued at $13,253,373.52. This represents a 33.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Edward Jay Kreps also recently made the following trade(s):

• On Wednesday, September 4th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $19.99, for a total transaction of $4,647,675.00.

Confluent Stock Performance

Confluent stock traded down $1.46 during mid-day trading on Friday, hitting $27.07. The company had a trading volume of 3,941,810 shares, compared to its average volume of 4,374,944. 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 company has a market capitalization of $8.88 billion, a price-to-earnings ratio of -24.39 and a beta of 0.82. The company’s fifty day moving average is $22.24 and its 200-day moving average is $24.62. Confluent, Inc. has a 12-month low of $17.79 and a 12-month 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, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities research analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CFLT. V Square Quantitative Management LLC purchased a new position in shares of Confluent during the 2nd quarter worth $68,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent during the 3rd quarter worth $68,000. UniSuper Management Pty Ltd raised its holdings in shares of Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after acquiring an additional 1,500 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CFLT. Baird R W upgraded shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Loop Capital reduced their price target on shares of Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, July 19th. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Needham & Company LLC restated a “buy” rating and set a $31.00 price objective on shares of Confluent in a research note on Friday. Finally, UBS Group increased their price target on shares of Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.