Confluent, Inc. (NASDAQ:CFLT) Director Sells $1,080,540.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi sold 34,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.32, for a total value of $1,080,540.00. Following the completion of the sale, the director now owns 7,160 shares of the company’s stock, valued at approximately $224,251.20. The trade was a 82.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Confluent Stock Performance

Shares of Confluent stock opened at $31.34 on Wednesday. The business has a 50-day simple moving average of $27.32 and a 200-day simple moving average of $24.72. The company has a market cap of $10.28 billion, a PE ratio of -28.23 and a beta of 0.88. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for 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%. On average, equities research analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CFLT has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $31.00 price target on shares of Confluent in a report on Friday, November 15th. Wells Fargo & Company upped their price objective on Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays raised their target price on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Evercore ISI decreased their price target on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.04.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the 3rd quarter worth about $68,000. Acadian Asset Management LLC purchased a new stake in Confluent during the second quarter worth approximately $175,000. Plato Investment Management Ltd boosted its holdings in Confluent by 2,184.1% in the second quarter. Plato Investment Management Ltd now owns 6,601 shares of the company’s stock valued at $195,000 after purchasing an additional 6,312 shares in the last quarter. Centaurus Financial Inc. increased its stake in Confluent by 109.2% in the second quarter. Centaurus Financial Inc. now owns 7,320 shares of the company’s stock valued at $216,000 after purchasing an additional 3,821 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Confluent during the second quarter worth approximately $238,000. 78.09% of the stock is currently owned by institutional investors and hedge funds.

Confluent Company Profile

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.