Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps Sells 232,500 Shares

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.29, for a total value of $6,809,925.00. Following the completion of the sale, the chief executive officer now owns 452,488 shares of the company’s stock, valued at $13,253,373.52. This trade represents a 33.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edward Jay Kreps also recently made the following trade(s):

• On Wednesday, September 4th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The stock was sold at an average price of $19.99, for a total transaction of $4,647,675.00.

Confluent Trading Down 5.1 %

NASDAQ CFLT opened at $27.07 on Friday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average of $22.39 and a two-hundred day moving average of $24.61. The stock has a market capitalization of $8.88 billion, a PE ratio of -24.39 and a beta of 0.82. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07.

Confluent (NASDAQ:CFLT) last released 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. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The business had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. As a group, research analysts expect that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Trading of Confluent

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in Confluent during the second quarter worth approximately $68,000. Point72 Hong Kong Ltd acquired a new position in Confluent in the 3rd quarter valued at about $68,000. UniSuper Management Pty Ltd raised its stake in Confluent by 125.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after acquiring an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Confluent by 40.3% in the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after purchasing an additional 859 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after purchasing an additional 1,167 shares during the period. 78.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CFLT. Royal Bank of Canada upped their price objective on Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. UBS Group raised their price objective on Confluent from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. DA Davidson reissued a “buy” rating and issued a $30.00 price objective on shares of Confluent in a research report on Wednesday, September 18th. Canaccord Genuity Group cut their price target on Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Truist Financial restated a “buy” rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a report on Thursday, August 1st. One 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’s stock. Based on data from MarketBeat, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target 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.