Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 126,730 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total transaction of $4,002,133.40. Following the sale, the insider now directly owns 552,424 shares of the company’s stock, valued at approximately $17,445,549.92. The trade was a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total transaction of $3,444,851.41.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $34.75, for a total transaction of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were 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 shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.

Confluent Price Performance

Shares of NASDAQ CFLT opened at $30.79 on Thursday. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of -28.51 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The firm’s 50 day simple moving average is $29.86 and its 200-day simple moving average is $26.21. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts expect that Confluent, Inc. will post -0.83 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC lifted its position in shares of Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock valued at $301,000 after buying an additional 328 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after buying an additional 458 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after buying an additional 503 shares in the last quarter. Truist Financial Corp lifted its position in shares of Confluent by 2.5% during the 4th quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after buying an additional 514 shares in the last quarter. Finally, Jasper Ridge Partners L.P. lifted its position in shares of Confluent by 4.8% during the 4th quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock valued at $403,000 after buying an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the topic of several recent analyst reports. UBS Group upgraded shares of Confluent from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $38.00 in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Truist Financial upped their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price objective on shares of Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.15.

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.