Lara Caimi Sells 34,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Lara Caimi sold 34,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $31.32, for a total value of $1,080,540.00. Following the sale, the director now owns 7,160 shares in the company, valued at approximately $224,251.20. This represents a 82.81 % 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 Price Performance

Shares of Confluent stock traded up $0.98 during trading on Monday, reaching $31.47. 3,719,843 shares of the company’s stock were exchanged, compared to its average volume of 4,344,167. The company has a market cap of $10.32 billion, a P/E ratio of -28.38 and a beta of 0.88. 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 firm’s 50-day moving average price is $26.86 and its 200 day moving average price is $24.65. Confluent, Inc. has a 1-year low of $17.79 and a 1-year high of $35.07.

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

Institutional Trading of Confluent

Several hedge funds and other institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC raised its stake 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 valued at $218,083,000 after acquiring an additional 4,486,841 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Confluent by 28.4% in the 2nd 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 last quarter. William Blair Investment Management LLC bought a new position in shares of Confluent in the second quarter worth approximately $193,403,000. Geode Capital Management LLC boosted its stake in Confluent by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after purchasing an additional 107,510 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Confluent by 60.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after buying an additional 1,316,804 shares in the last quarter. Institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

CFLT has been the topic of several research reports. Wells Fargo & Company lifted their target price on Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Truist Financial boosted their target price on shares of Confluent from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson reaffirmed a “buy” rating and issued a $30.00 price target on shares of Confluent in a report on Wednesday, September 18th. Scotiabank upped their price target on Confluent from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Barclays increased their price target on Confluent from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Confluent has an average rating of “Moderate Buy” and a consensus price target of $32.04.

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.