Michelangelo Volpi Sells 25,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the sale, the director now owns 267,079 shares of the company’s stock, valued at approximately $6,676,975. This trade represents a 8.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Confluent Price Performance

NASDAQ:CFLT traded up $0.03 during mid-day trading on Monday, hitting $24.39. The company’s stock had a trading volume of 3,921,639 shares, compared to its average volume of 4,888,341. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The company has a current ratio of 3.99, a quick ratio of 4.24 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average of $21.97 and a 200-day moving average of $26.85. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -22.58 and a beta of 0.98.

Confluent (NASDAQ:CFLT) last posted its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $271.12 million during the quarter, compared to analysts’ expectations of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Confluent’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. As a group, equities analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CFLT. Cloud Capital Management LLC bought a new stake in Confluent during the 1st quarter valued at $26,000. Credit Industriel ET Commercial purchased a new position in shares of Confluent during the fourth quarter valued at approximately $28,000. Versant Capital Management Inc increased its stake in shares of Confluent by 2,458.2% in the 1st quarter. Versant Capital Management Inc now owns 1,714 shares of the company’s stock worth $40,000 after acquiring an additional 1,647 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Confluent during the first quarter valued at approximately $43,000. Finally, SVB Wealth LLC bought a new stake in shares of Confluent during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of a number of recent research reports. Scotiabank dropped their target price on Confluent from $35.00 to $24.00 and set a “sector perform” rating for the company in a research report on Thursday, April 24th. William Blair reissued an “outperform” rating on shares of Confluent in a report on Monday, March 17th. TD Securities reduced their price target on shares of Confluent from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on Confluent from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial reduced their price objective on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.11.

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.