Michelangelo Volpi Sells 50,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 50,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the completion of the sale, the director now owns 280,200 shares in the company, valued at $7,262,784. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Michelangelo Volpi also recently made the following trade(s):

• On Tuesday, November 5th, Michelangelo Volpi sold 477,952 shares of Confluent stock. The stock was sold at an average price of $26.41, for a total value of $12,622,712.32.

Confluent Stock Up 1.6 %

Confluent stock opened at $27.56 on Friday. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -24.83 and a beta of 0.82. The firm has a 50 day simple moving average of $21.38 and a 200 day simple moving average of $24.63. Confluent, Inc. has a 1-year low of $16.69 and a 1-year high of $35.07. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, analysts predict that Confluent, Inc. will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Confluent

A number of large investors have recently modified their holdings of CFLT. Vanguard Group Inc. increased its holdings in Confluent by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after acquiring an additional 669,675 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Confluent by 17.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after purchasing an additional 1,684,100 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Confluent in the second quarter worth $193,403,000. Finally, Champlain Investment Partners LLC bought a new stake in Confluent during the first quarter valued at $144,563,000. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CFLT. Deutsche Bank Aktiengesellschaft cut their target price on Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Confluent from $26.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Barclays raised their price target on shares of Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price objective on shares of Confluent from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial reissued a “buy” rating and set a $30.00 target price (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.74.

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.