Erica Schultz Sells 126,730 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of Confluent stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $4,002,133.40. Following the sale, the insider now owns 552,424 shares in the company, valued at approximately $17,445,549.92. The trade was a 18.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total transaction of $3,444,851.41.
• 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 Trading Up 1.1 %

NASDAQ CFLT opened at $30.79 on Thursday. The company’s 50-day moving average price is $29.86 and its 200-day moving average price is $26.21. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a market cap of $10.10 billion, a PE ratio of -28.51 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

Hedge funds have recently added to or reduced their stakes in the business. Credit Industriel ET Commercial purchased a new stake in Confluent in the fourth quarter worth about $28,000. Blue Trust Inc. lifted its stake in Confluent by 354.0% in the fourth 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. purchased a new stake in Confluent in the fourth quarter worth about $59,000. Point72 Hong Kong Ltd purchased a new stake in Confluent in the third quarter worth about $68,000. Finally, GAMMA Investing LLC lifted its stake in Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after acquiring an additional 1,136 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. TD Cowen raised their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Evercore ISI raised their target price on shares of Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Barclays boosted their price objective on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.15.

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.