Confluent, Inc. (NASDAQ:CFLT) Insider Sells $4,002,133.40 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40. Following the sale, the insider now directly owns 552,424 shares of the company’s stock, valued at approximately $17,445,549.92. This represents a 18.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction of $2,214,582.75.
• 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 shares were sold at an average price of $31.68, for a total transaction 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.

Confluent Stock Up 2.9 %

Shares of NASDAQ:CFLT opened at $31.69 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92. The company has a 50 day moving average of $29.93 and a 200-day moving average of $26.24. Confluent, Inc. has a one year low of $17.79 and a one year 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 the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, sell-side analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CFLT shares. Stifel Nicolaus upped their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Robert W. Baird lifted their target price on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Finally, Truist Financial boosted their price target on Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.15.

Hedge Funds Weigh In On Confluent

Institutional investors and hedge funds have recently made changes to their positions in the company. Credit Industriel ET Commercial bought a new position in shares of Confluent during the 4th quarter valued at about $28,000. Blue Trust Inc. lifted its position 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 stake in shares of Confluent in the 4th quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new stake in shares of Confluent in the 3rd quarter valued at about $68,000. Finally, GAMMA Investing LLC boosted its position in shares of Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds 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.