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

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $31.68, for a total transaction of $2,018,934.72. Following the sale, the insider now owns 678,016 shares in the company, valued at $21,479,546.88. This represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total value of $2,013,836.40.
• 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 Trading Up 0.4 %

Shares of Confluent stock opened at $31.32 on Friday. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $26.66 and a 200-day simple moving average of $24.72.

Confluent (NASDAQ:CFLT) last released its earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company 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%. Equities analysts predict that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CWM LLC grew its holdings in shares of Confluent by 17.6% during the 2nd quarter. CWM LLC now owns 10,099 shares of the company’s stock valued at $298,000 after acquiring an additional 1,515 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Confluent by 785.3% in the second quarter. SG Americas Securities LLC now owns 46,372 shares of the company’s stock worth $1,369,000 after buying an additional 41,134 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Confluent by 37.3% during the 2nd quarter. Diversified Trust Co now owns 28,774 shares of the company’s stock worth $850,000 after acquiring an additional 7,824 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Confluent during the 2nd quarter worth about $68,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Confluent by 9.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after acquiring an additional 1,113 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. DA Davidson reiterated a “buy” rating and issued a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Finally, Scotiabank boosted their price target on Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.88.

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.