Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 25,000 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of Confluent stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $36.22, for a total value of $905,500.00. Following the transaction, the director now directly owns 292,079 shares in the company, valued at approximately $10,579,101.38. The trade was a 7.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Confluent Trading Down 4.9 %

NASDAQ:CFLT opened at $33.23 on Thursday. 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 company’s 50 day moving average is $29.83 and its 200-day moving average is $25.79. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of -30.77 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last released its earnings results 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 return on equity of 35.45% and a negative net margin of 35.81%. Equities analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim lifted their target price on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Scotiabank boosted their price objective on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Morgan Stanley raised their target price on shares of Confluent from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. TD Cowen boosted their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on shares of Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.00.

Institutional Trading of Confluent

Hedge funds have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC lifted its holdings in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after buying an additional 4,486,841 shares during the last quarter. Norges Bank bought a new position in Confluent during the fourth quarter worth $81,092,000. Pictet Asset Management Holding SA increased its position in Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock worth $65,748,000 after acquiring an additional 2,319,919 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Confluent during the 4th quarter valued at $64,658,000. Finally, Fiera Capital Corp bought a new stake in Confluent in the 3rd quarter valued at $21,127,000. Institutional investors own 78.09% of the company’s stock.

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.