Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 34,375 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Jonathan Chadwick sold 34,375 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $30.57, for a total value of $1,050,843.75. Following the transaction, the director now directly owns 22,688 shares of the company’s stock, valued at approximately $693,572.16. The trade was a 60.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Confluent Trading Up 0.2 %

CFLT opened at $31.74 on Friday. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The stock’s fifty day moving average is $29.96 and its two-hundred day moving average is $26.32. The company has a market capitalization of $10.41 billion, a P/E ratio of -29.39 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CFLT shares. Wells Fargo & Company raised their price objective on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Mizuho raised their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.15.

Institutional Inflows and Outflows

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

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.