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

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the sale, the insider now directly owns 687,483 shares in the company, valued at approximately $18,837,034.20. This represents a 8.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Confluent Stock Performance

NASDAQ CFLT traded up $0.28 on Wednesday, hitting $28.57. 3,402,313 shares of the stock traded hands, compared to its average volume of 4,352,946. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The business’s fifty day moving average is $22.72 and its two-hundred day moving average is $24.55. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of -25.52 and a beta of 0.82.

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

Hedge Funds Weigh In On Confluent

Several large investors have recently modified their holdings of CFLT. ProShare Advisors LLC boosted its holdings in Confluent by 19.6% in the 1st quarter. ProShare Advisors LLC now owns 11,719 shares of the company’s stock worth $358,000 after buying an additional 1,922 shares during the period. Blair William & Co. IL boosted its holdings in shares of Confluent by 24.5% in the first quarter. Blair William & Co. IL now owns 17,800 shares of the company’s stock worth $543,000 after acquiring an additional 3,501 shares during the period. Intech Investment Management LLC purchased a new position in shares of Confluent in the first quarter valued at $370,000. Vanguard Group Inc. raised its stake in shares of Confluent by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock valued at $602,505,000 after purchasing an additional 669,675 shares during the period. Finally, Edgestream Partners L.P. lifted its holdings in Confluent by 8.7% during the 1st quarter. Edgestream Partners L.P. now owns 23,163 shares of the company’s stock worth $707,000 after purchasing an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler cut their target price on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Canaccord Genuity Group decreased their price target on Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.88.

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.