Confluent, Inc. (NASDAQ:CFLT) Director Sells $905,500.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.22, for a total transaction of $905,500.00. Following the completion of the sale, the director now owns 292,079 shares in the company, valued at approximately $10,579,101.38. This trade represents a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Confluent Trading Down 2.1 %

Shares of NASDAQ CFLT opened at $32.54 on Friday. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of -30.13 and a beta of 0.92. The business has a 50 day simple moving average of $29.85 and a 200 day simple moving average of $25.84. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. 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 results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 35.45%. On average, research analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CFLT. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Confluent in a research report on Tuesday, October 29th. Canaccord Genuity Group boosted their price objective on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Guggenheim boosted their price objective on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price objective on Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Mizuho boosted their price objective on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Institutional Investors Weigh In On Confluent

Large investors have recently added to or reduced their stakes in the stock. Credit Industriel ET Commercial bought a new stake in Confluent during the fourth quarter worth approximately $28,000. Blue Trust Inc. boosted its position in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after purchasing an additional 1,607 shares during the period. SBI Securities Co. Ltd. bought a new stake in Confluent during the fourth quarter worth approximately $59,000. GAMMA Investing LLC boosted its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after purchasing an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Confluent during the third quarter worth approximately $68,000. Institutional investors 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.