Erica Schultz Sells 9,467 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total transaction of $267,253.41. Following the completion of the transaction, the insider now owns 678,016 shares in the company, valued at $19,140,391.68. The trade was a 1.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Erica Schultz also recently made the following trade(s):

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $27.40, for a total value of $1,746,174.60.

Confluent Trading Up 3.0 %

NASDAQ CFLT opened at $31.52 on Friday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of -28.40 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. The firm’s fifty day moving average price is $23.35 and its 200 day moving average price is $24.62.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, sell-side analysts expect that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CFLT. JPMorgan Chase & Co. lifted their target price on Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Scotiabank boosted their price objective on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Baird R W raised shares of Confluent to a “hold” rating in a research note on Wednesday, September 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $31.00 price objective on shares of Confluent in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Investors Weigh In On Confluent

Several large investors have recently modified their holdings of CFLT. Vanguard Group Inc. increased its holdings in shares of Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after acquiring an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Confluent by 17.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after buying an additional 4,486,841 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Confluent by 28.4% during the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after buying an additional 1,684,100 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Confluent in the 2nd quarter valued at about $193,403,000. 78.09% of the stock is owned by institutional investors and hedge funds.

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.