Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 63,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total value of $1,746,174.60. Following the completion of the sale, the insider now owns 687,483 shares in the company, valued at $18,837,034.20. The trade was a 8.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Confluent Price Performance

CFLT traded up $0.28 on Wednesday, hitting $28.57. 3,402,313 shares of the stock were exchanged, compared to its average volume of 4,352,946. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of -25.52 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The business has a 50-day moving average of $22.72 and a two-hundred day moving average of $24.55.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CFLT. Canaccord Genuity Group lowered their price target on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Mizuho raised their price target on Confluent from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein dropped their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Confluent in a research note on Wednesday, September 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price target on shares of Confluent in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.88.

Institutional Investors Weigh In On Confluent

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Confluent by 3.5% in 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 last quarter. Price T Rowe Associates Inc. MD grew its position in Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after acquiring an additional 2,587,169 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. raised its position in Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after purchasing an additional 1,684,100 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Confluent during the second quarter worth about $193,403,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.