Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 150,000 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 150,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the completion of the transaction, the insider now directly owns 678,016 shares of the company’s stock, valued at $24,286,533.12. This trade represents a 18.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total transaction of $2,214,582.75.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total transaction of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40.
• 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 value of $267,253.41.

Confluent Trading Up 0.3 %

Shares of NASDAQ CFLT opened at $34.94 on Wednesday. The stock has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $37.90. The business’s 50 day moving average is $29.79 and its two-hundred day moving average is $25.74. 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 (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, research analysts expect that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Trading of Confluent

Several institutional investors and hedge funds have recently modified their holdings of CFLT. Credit Industriel ET Commercial bought a new position in shares of Confluent during the 4th quarter worth $28,000. Blue Trust Inc. grew its holdings in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Confluent during the 4th quarter worth about $59,000. GAMMA Investing LLC increased its position in Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Confluent in the 3rd quarter valued at about $68,000. Institutional investors own 78.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CFLT shares. 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. Bank of America boosted their target price on shares of Confluent from $26.00 to $31.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Barclays upped their price target on shares of Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company increased their price objective on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.