Erica Schultz Sells 63,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the transaction, the insider now directly owns 687,483 shares of the company’s stock, valued at approximately $18,837,034.20. This represents a 8.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Confluent Trading Up 1.0 %

CFLT stock opened at $28.57 on Thursday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The firm’s 50-day moving average price is $22.90 and its two-hundred day moving average price is $24.58. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $35.07.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data 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. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Truist Financial reiterated a “buy” rating and set a $30.00 target price (down from $36.00) on shares of Confluent in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Confluent has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its stake in shares of Confluent by 19.6% during the 1st quarter. ProShare Advisors LLC now owns 11,719 shares of the company’s stock valued at $358,000 after purchasing an additional 1,922 shares in the last quarter. Blair William & Co. IL raised its position in shares of Confluent by 24.5% in the 1st quarter. Blair William & Co. IL now owns 17,800 shares of the company’s stock worth $543,000 after acquiring an additional 3,501 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Confluent in the 1st quarter valued at approximately $370,000. Vanguard Group Inc. boosted its position in shares of Confluent by 3.5% during the first quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after purchasing an additional 669,675 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Confluent by 8.7% in the first quarter. Edgestream Partners L.P. now owns 23,163 shares of the company’s stock worth $707,000 after purchasing an additional 1,850 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.