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

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $31.60, for a total transaction of $2,013,836.40. Following the completion of the sale, the insider now directly owns 678,016 shares in the company, valued at approximately $21,425,305.60. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41.
• 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 Down 2.3 %

NASDAQ CFLT opened at $30.57 on Friday. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The stock has a market capitalization of $10.03 billion, a PE ratio of -27.54 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. The business’s 50-day moving average is $24.00 and its 200 day moving average is $24.63.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data 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. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Sell-side analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Institutional Trading of Confluent

Large investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in shares of Confluent in the 2nd quarter worth about $193,403,000. Champlain Investment Partners LLC lifted its holdings in Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares during the period. 1832 Asset Management L.P. boosted its position in Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Confluent by 60.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after acquiring an additional 1,316,804 shares during the period. Finally, Fiera Capital Corp bought a new position in shares of Confluent in the 3rd quarter worth approximately $21,127,000. Institutional investors own 78.09% of the company’s stock.

Wall Street Analyst Weigh In

CFLT has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price objective on shares of Confluent in a research report on Friday, November 15th. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Bank of America decreased their price objective on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Wells Fargo & Company dropped their target price on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein cut their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.