Confluent, Inc. (NASDAQ:CFLT – Get Free Report) insider Erica Schultz sold 9,556 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $21.68, for a total value of $207,174.08. Following the transaction, the insider now owns 687,483 shares in the company, valued at approximately $14,904,631.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Erica Schultz also recently made the following trade(s):
- On Thursday, June 6th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $26.01, for a total transaction of $1,657,591.29.
- On Wednesday, May 29th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $30.20, for a total transaction of $1,924,615.80.
Confluent Trading Down 3.8 %
Shares of CFLT traded down $0.83 during trading hours on Thursday, hitting $21.27. The stock had a trading volume of 1,815,270 shares, compared to its average volume of 4,530,488. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $35.22. The firm has a market cap of $6.76 billion, a P/E ratio of -17.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 5.07 and a current ratio of 5.07. The company’s fifty day simple moving average is $24.82 and its 200 day simple moving average is $28.28.
Analysts Set New Price Targets
A number of brokerages have issued reports on CFLT. Evercore ISI initiated coverage on shares of Confluent in a report on Tuesday, June 11th. They issued an “outperform” rating and a $35.00 target price for the company. Scotiabank dropped their price objective on Confluent from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Guggenheim restated a “buy” rating and set a $37.00 target price on shares of Confluent in a report on Tuesday, June 25th. Mizuho reduced their price target on shares of Confluent from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Finally, Bank of America cut their price objective on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $30.96.
Get Our Latest Analysis on CFLT
Institutional Investors Weigh In On Confluent
Several large investors have recently made changes to their positions in CFLT. Truist Financial Corp raised its stake in shares of Confluent by 5.3% during the second quarter. Truist Financial Corp now owns 24,420 shares of the company’s stock valued at $721,000 after purchasing an additional 1,238 shares during the period. The Manufacturers Life Insurance Company boosted its position in Confluent by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 121,364 shares of the company’s stock valued at $3,584,000 after buying an additional 5,631 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Confluent during the second quarter valued at about $493,000. APG Asset Management N.V. increased its position in shares of Confluent by 233.4% during the second quarter. APG Asset Management N.V. now owns 28,284 shares of the company’s stock worth $779,000 after acquiring an additional 19,800 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Confluent by 116.1% in the second quarter. AQR Capital Management LLC now owns 24,440 shares of the company’s stock worth $722,000 after acquiring an additional 13,133 shares in the last quarter. 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.
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