Confluent, Inc. (NASDAQ:CFLT) CEO Sells $7,516,725.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00. Following the completion of the transaction, the chief executive officer now directly owns 452,488 shares of the company’s stock, valued at $14,628,937.04. This represents a 33.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Confluent Trading Up 0.3 %

Shares of CFLT traded up $0.08 during midday trading on Monday, hitting $31.09. The stock had a trading volume of 6,814,071 shares, compared to its average volume of 5,668,658. The stock’s 50 day moving average is $29.86 and its 200 day moving average is $26.02. The firm has a market cap of $10.20 billion, a PE ratio of -28.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $37.90.

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%. As a group, analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Confluent

Several hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP grew its position in Confluent by 1,465.6% in the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after acquiring an additional 28,360 shares during the last quarter. Pathway Capital Management LP purchased a new stake in shares of Confluent during the third quarter valued at $918,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after purchasing an additional 64,926 shares during the last quarter. Creative Planning grew its holdings in shares of Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Confluent by 152.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock worth $1,398,000 after buying an additional 41,431 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. Mizuho boosted their price target on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Barclays upped their price target on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. TD Cowen lifted their price objective on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial upped their target price on shares of Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

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.