Erica Schultz Sells 9,467 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $267,253.41. Following the transaction, the insider now owns 678,016 shares in the company, valued at approximately $19,140,391.68. This represents a 1.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Erica Schultz also recently made the following trade(s):

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Stock Up 3.0 %

CFLT stock opened at $31.52 on Friday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $24.62. The stock has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CFLT shares. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their target price on Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Sanford C. Bernstein reduced their price target on Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Piper Sandler dropped their price objective on Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.88.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Confluent during the second quarter worth $68,000. Point72 Hong Kong Ltd purchased a new stake in Confluent during the 3rd quarter valued at about $68,000. UniSuper Management Pty Ltd raised its holdings in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after purchasing an additional 1,167 shares during the last quarter. 78.09% of the stock is owned by institutional investors and hedge funds.

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.