Confluent, Inc. (NASDAQ:CFLT) Insider Sells $207,174.08 in Stock

Confluent, Inc. (NASDAQ:CFLT) 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.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $234.99 million during the quarter, compared to analyst estimates of $229.49 million. Confluent had a negative net margin of 42.70% and a negative return on equity of 38.46%. Equities research analysts forecast that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

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.

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.