Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 9,467 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $267,253.41. Following the completion of the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at $19,140,391.68. The trade was a 1.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Stock Performance

Shares of Confluent stock opened at $31.52 on Friday. The company has a fifty day moving average of $23.35 and a 200-day moving average of $24.64. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Equities analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

CFLT has been the topic of several research reports. Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. Robert W. Baird increased their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Mizuho boosted their price target on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, TD Cowen raised their price objective on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Investors Weigh In On Confluent

A number of large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Confluent during the second quarter valued at approximately $68,000. Point72 Hong Kong Ltd bought a new stake in shares of Confluent during the 3rd quarter valued at $68,000. UniSuper Management Pty Ltd grew its position in shares of Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after buying an additional 1,500 shares during the period. Advisors Asset Management Inc. lifted its position in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares during the period. Finally, Lazard Asset Management LLC lifted its position in Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after acquiring an additional 1,167 shares during the period. Institutional investors own 78.09% of the company’s stock.

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.