Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells $187,593.75 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi sold 9,375 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $20.01, for a total transaction of $187,593.75. Following the completion of the sale, the director now directly owns 7,160 shares of the company’s stock, valued at $143,271.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Lara Caimi also recently made the following trade(s):

• On Monday, June 3rd, Lara Caimi sold 5,399 shares of Confluent stock. The stock was sold at an average price of $25.88, for a total value of $139,726.12.

Confluent Trading Down 1.0 %

Shares of NASDAQ:CFLT opened at $21.10 on Thursday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -16.88 and a beta of 0.91. Confluent, Inc. has a 12 month low of $14.69 and a 12 month high of $35.22. The company’s fifty day simple moving average is $25.39 and its 200 day simple moving average is $28.37. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Guggenheim reaffirmed a “buy” rating and set a $37.00 target price on shares of Confluent in a report on Tuesday, June 25th. Loop Capital cut their price objective on Confluent from $30.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, July 19th. Canaccord Genuity Group upgraded shares of Confluent from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, May 8th. Finally, Bank of America cut their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.96.

Institutional Trading of Confluent

Several hedge funds and other institutional investors have recently modified their holdings of CFLT. Hollencrest Capital Management bought a new position in shares of Confluent during the first quarter worth about $26,000. Rakuten Securities Inc. acquired a new position in Confluent during the 4th quarter worth approximately $31,000. Quest Partners LLC bought a new position in shares of Confluent during the 4th quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in shares of Confluent in the fourth quarter valued at approximately $35,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Confluent in the second quarter worth $68,000. Institutional investors and hedge funds 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.