Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 63,729 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40. Following the completion of the sale, the insider now owns 678,016 shares of the company’s stock, valued at $21,425,305.60. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $267,253.41.
• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60.

Confluent Stock Down 2.3 %

NASDAQ CFLT opened at $30.57 on Thursday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of -27.54 and a beta of 0.82. The company has a fifty day moving average of $23.79 and a two-hundred day moving average of $24.59.

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

Wall Street Analyst Weigh In

CFLT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Wolfe Research raised Confluent to a “strong-buy” rating in a report on Wednesday, September 18th. Bank of America lowered their price objective on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Finally, Baird R W upgraded Confluent to a “hold” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have issued 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the last quarter. Lazard Asset Management LLC increased its stake in Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the period. iA Global Asset Management Inc. bought a new stake in shares of Confluent during the first quarter worth $4,376,000. Cetera Advisors LLC grew its holdings in shares of Confluent by 209.6% in the first quarter. Cetera Advisors LLC now owns 31,971 shares of the company’s stock worth $976,000 after purchasing an additional 21,646 shares during the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new position in Confluent in the 1st quarter worth about $1,914,000. Institutional investors own 78.09% of the company’s stock.

Confluent Company Profile

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.