Confluent, Inc. (NASDAQ:CFLT) Director Sells $1,197,600.00 in Stock

Confluent, Inc. (NASDAQ:CFLT) Director Neha Narkhede sold 60,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $19.96, for a total transaction of $1,197,600.00. Following the completion of the sale, the director now owns 20,247 shares in the company, valued at $404,130.12. The trade was a 74.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Neha Narkhede also recently made the following trade(s):

• On Monday, March 3rd, Neha Narkhede sold 40,000 shares of Confluent stock. The shares were sold at an average price of $30.68, for a total transaction of $1,227,200.00.

Confluent Stock Up 2.7 %

CFLT stock opened at $20.98 on Friday. The company’s 50 day moving average price is $23.59 and its 200 day moving average price is $27.32. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -19.43 and a beta of 1.02. 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 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $271.12 million during the quarter, compared to analysts’ expectations of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. On average, equities research analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently modified their holdings of the business. US Bancorp DE raised its position in Confluent by 154.2% in the first quarter. US Bancorp DE now owns 10,718 shares of the company’s stock worth $251,000 after acquiring an additional 6,502 shares in the last quarter. Natixis Advisors LLC acquired a new position in shares of Confluent during the 1st quarter worth $682,000. Bayforest Capital Ltd increased its holdings in shares of Confluent by 184.9% in the 1st quarter. Bayforest Capital Ltd now owns 17,273 shares of the company’s stock valued at $405,000 after purchasing an additional 11,211 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Confluent in the first quarter valued at about $679,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Confluent in the first quarter valued at about $334,000. 78.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group lowered their target price on Confluent from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Stifel Nicolaus dropped their price objective on shares of Confluent from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Confluent from $32.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada raised their price target on shares of Confluent from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, Barclays decreased their price objective on shares of Confluent from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus price target of $30.11.

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.