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

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of Confluent stock in a transaction on Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $4,002,133.40. Following the transaction, the insider now owns 552,424 shares in the company, valued at approximately $17,445,549.92. This trade represents a 18.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 value 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 value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was 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 stock was sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Stock Down 2.1 %

Shares of CFLT traded down $0.65 during trading hours on Tuesday, hitting $30.44. 5,460,988 shares of the company were exchanged, compared to its average volume of 5,662,908. The company has a market cap of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92. The firm’s 50 day moving average is $29.86 and its 200-day moving average is $26.10. 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 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

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

Analysts Set New Price Targets

CFLT has been the topic of a number of recent research reports. Truist Financial lifted their target price on Confluent from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Citigroup lifted their target price on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Needham & Company LLC lifted their price target on Confluent from $31.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Guggenheim lifted their price target on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, TD Cowen lifted their price target on Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Hedge Funds Weigh In On Confluent

Large investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial acquired a new position in Confluent in the 4th quarter valued at approximately $28,000. Blue Trust Inc. raised its holdings in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new position in Confluent in the 4th quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent in the 3rd quarter valued at approximately $68,000. Finally, GAMMA Investing LLC raised its holdings in Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after acquiring an additional 1,136 shares in the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

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.