Insider Selling: Confluent (NASDAQ:CFLT) Director Sells 25,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $30.59, for a total transaction of $764,750.00. Following the completion of the transaction, the director owned 155,512 shares of the company’s stock, valued at $4,757,112.08. This represents a 13.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Michelangelo Volpi also recently made the following trade(s):

• On Monday, December 8th, Michelangelo Volpi sold 17,962 shares of Confluent stock. The stock was sold at an average price of $29.77, for a total value of $534,728.74.
• On Monday, December 8th, Michelangelo Volpi sold 32,038 shares of Confluent stock. The shares were sold at an average price of $29.77, for a total value of $953,771.26.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.04 during trading hours on Wednesday, reaching $30.66. The stock had a trading volume of 6,776,448 shares, compared to its average volume of 18,098,496. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of -35.65 and a beta of 0.95. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.94. Confluent, Inc. has a fifty-two week low of $15.64 and a fifty-two week high of $34.81. The firm has a 50-day moving average of $30.34 and a 200-day moving average of $24.29.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Confluent had a negative return on equity of 22.66% and a negative net margin of 25.31%.The company had revenue of $314.82 million for the quarter, compared to analyst estimates of $308.03 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Equities research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on CFLT. William Blair cut shares of Confluent from an “outperform” rating to a “market perform” rating in a research note on Monday, December 8th. Stephens upped their target price on shares of Confluent from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Canaccord Genuity Group downgraded shares of Confluent from a “buy” rating to a “hold” rating and increased their target price for the stock from $27.00 to $31.00 in a research note on Monday, December 8th. DA Davidson restated a “neutral” rating and issued a $31.00 price target (up previously from $29.00) on shares of Confluent in a research report on Monday, December 8th. Finally, Guggenheim downgraded Confluent from a “buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twenty-eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.71.

Institutional Investors Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in CFLT. Quarry LP acquired a new position in Confluent during the 3rd quarter worth approximately $26,000. United Community Bank acquired a new stake in shares of Confluent in the 4th quarter valued at approximately $30,000. Danske Bank A S purchased a new stake in shares of Confluent in the third quarter valued at approximately $34,000. True Wealth Design LLC purchased a new stake in shares of Confluent in the third quarter valued at approximately $36,000. Finally, Los Angeles Capital Management LLC acquired a new position in Confluent during the fourth quarter worth $36,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

About Confluent

Confluent, Inc (NASDAQ: CFLT) is a leading provider of an event streaming platform built on Apache Kafka. The company’s flagship offerings include Confluent Platform—a self-managed software solution—and Confluent Cloud, a fully managed service designed to simplify real-time data processing across hybrid and multi-cloud environments. These products enable enterprises to collect, process and distribute high volumes of data in real time, supporting use cases such as fraud detection, supply chain optimization and personalized customer experiences.

Founded in 2014 by Apache Kafka co-creators Jay Kreps, Neha Narkhede and Jun Rao, Confluent has driven the commercialization of Kafka technologies and extended the platform with tools for data integration, stream processing and enterprise-grade security.