Jonathan Chadwick Sells 34,375 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick sold 34,375 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $30.57, for a total value of $1,050,843.75. Following the completion of the sale, the director now directly owns 22,688 shares in the company, valued at $693,572.16. This trade represents a 60.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Confluent Stock Performance

NASDAQ:CFLT opened at $31.74 on Friday. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. Confluent, Inc. has a 12-month low of $17.79 and a 12-month high of $37.90. The stock has a 50-day moving average price of $29.96 and a 200 day moving average price of $26.32. The stock has a market capitalization of $10.41 billion, a P/E ratio of -29.39 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its 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 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 EPS for the current fiscal year.

Institutional Trading of Confluent

Several institutional investors have recently made changes to their positions in the business. Infinitum Asset Management LLC purchased a new stake in shares of Confluent during the fourth quarter worth about $10,485,000. Cache Advisors LLC bought a new position in Confluent during the fourth quarter valued at approximately $1,322,000. Neo Ivy Capital Management bought a new position in Confluent during the fourth quarter valued at approximately $2,088,000. Vident Advisory LLC bought a new position in Confluent during the fourth quarter valued at approximately $972,000. Finally, Tairen Capital Ltd boosted its stake in Confluent by 45.6% during the fourth quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after buying an additional 22,798 shares during the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CFLT. Barclays upped their price target on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Scotiabank upped their price target on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Needham & Company LLC upped their price target on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler upped their price target on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Guggenheim upped their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Confluent presently has a consensus rating of “Moderate Buy” and a consensus price target 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.