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, March 4th. The stock was sold at an average price of $29.47, for a total value of $1,878,093.63. Following the sale, the insider now owns 502,424 shares of the company’s stock, valued at approximately $14,806,435.28. This represents a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The stock was sold at an average price of $30.29, for a total value of $3,444,851.41.
• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total value of $2,018,934.72.

Confluent Stock Down 11.0 %

Confluent stock opened at $28.65 on Friday. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. The firm has a 50 day moving average price of $29.97 and a 200 day moving average price of $26.56. The company has a market capitalization of $9.57 billion, a PE ratio of -26.53 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. Research analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC upped their target price on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI upped their target price on Confluent from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Scotiabank upped their target price on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Mizuho increased their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company increased their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.15.

Hedge Funds Weigh In On Confluent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CFLT. ProShare Advisors LLC lifted its position in shares of Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock worth $301,000 after purchasing an additional 328 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock worth $323,000 after purchasing an additional 458 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares during the last quarter. Truist Financial Corp lifted its position in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock worth $589,000 after purchasing an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. lifted its position in shares of Confluent by 4.8% during the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock worth $403,000 after purchasing an additional 664 shares during the last quarter. Hedge funds and other 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.