Confluent, Inc. (NASDAQ:CFLT) Insider Erica Schultz Sells 63,729 Shares

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of Confluent stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.40, for a total transaction of $1,746,174.60. Following the completion of the transaction, the insider now directly owns 687,483 shares in the company, valued at approximately $18,837,034.20. The trade was a 8.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Confluent Stock Performance

Shares of Confluent stock opened at $28.57 on Thursday. Confluent, Inc. has a one year low of $17.79 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock’s 50-day moving average is $22.90 and its 200 day moving average is $24.58.

Confluent (NASDAQ:CFLT) last issued its earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. As a group, equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

CFLT has been the topic of a number of recent research reports. Citigroup lifted their target price on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $31.00 price target on shares of Confluent in a report on Friday, November 15th. Scotiabank raised their target price on shares of Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Bank of America dropped their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Finally, Wells Fargo & Company reduced their target price on Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.88.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new position in Confluent during the second quarter worth about $68,000. UniSuper Management Pty Ltd grew its stake in Confluent by 125.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock valued at $82,000 after buying an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after acquiring an additional 859 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Confluent during the third quarter worth $68,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after acquiring an additional 1,167 shares during the period. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.