Confluent, Inc. (NASDAQ:CFLT) Insider Sells $2,214,582.75 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75. Following the sale, the insider now directly owns 678,016 shares in the company, valued at approximately $23,561,056. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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 value of $5,373,000.00.
• 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 value 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 value of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total transaction 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 transaction of $267,253.41.

Confluent Price Performance

NASDAQ CFLT opened at $33.23 on Thursday. The business’s fifty day moving average is $29.83 and its 200 day moving average is $25.79. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two 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. The company has a market capitalization of $10.90 billion, a PE ratio of -30.77 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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 35.45%. Sell-side analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Confluent from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. UBS Group lifted their price objective on Confluent from $26.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Royal Bank of Canada increased their target price on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their price target on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Confluent from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in Confluent by 1,465.6% in the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after buying an additional 28,360 shares during the period. Pathway Capital Management LP bought a new position in shares of Confluent in the third quarter worth about $918,000. Charles Schwab Investment Management Inc. grew its position in shares of Confluent by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after purchasing an additional 64,926 shares in the last quarter. Creative Planning raised its stake in Confluent by 109.9% during the 3rd quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after purchasing an additional 49,699 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in Confluent by 152.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock valued at $1,398,000 after buying an additional 41,431 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.