Confluent, Inc. (NASDAQ:CFLT) CTO Chad Verbowski Sells 13,414 Shares

Confluent, Inc. (NASDAQ:CFLT) CTO Chad Verbowski sold 13,414 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $378,677.22. Following the transaction, the chief technology officer now owns 483,393 shares in the company, valued at $13,646,184.39. This trade represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Confluent Stock Performance

Confluent stock opened at $31.52 on Friday. 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, Inc. has a one year low of $17.79 and a one year high of $35.07. The stock has a fifty day moving average of $23.35 and a 200 day moving average of $24.64.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Analysts forecast that Confluent, Inc. will post -0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC boosted its stake in shares of Confluent by 3.6% in the third quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after acquiring an additional 503 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Confluent by 8.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after acquiring an additional 857 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares during the period. Fulton Bank N.A. boosted its stake in Confluent by 15.0% during the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after buying an additional 1,064 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Confluent by 9.6% during the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock valued at $374,000 after buying an additional 1,113 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CFLT shares. Stifel Nicolaus reduced their price target on Confluent from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird raised their price target on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Citigroup raised their price target on Confluent from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, Scotiabank increased their price objective on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

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.