Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 150,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 150,000 shares of Confluent stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total value of $5,373,000.00. Following the completion of the sale, the insider now owns 678,016 shares of the company’s stock, valued at $24,286,533.12. The trade was a 18.12 % 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 link.

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

• 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 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 value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41.

Confluent Price Performance

NASDAQ:CFLT opened at $34.94 on Wednesday. The firm’s 50-day simple moving average is $29.79 and its 200 day simple moving average is $25.74. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of -31.48 and a beta of 0.92. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Credit Industriel ET Commercial acquired 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.

Wall Street Analyst Weigh In

Several research firms have commented on CFLT. Morgan Stanley lifted their price target on Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Barclays increased their target price on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. UBS Group lifted their price target on shares of Confluent from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Robert W. Baird increased their price objective on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Confluent presently 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.