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 on Tuesday, November 26th. The shares were sold at an average price of $31.60, for a total value of $2,013,836.40. Following the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at approximately $21,425,305.60. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Erica Schultz also recently made the following trade(s):

• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $267,253.41.
• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Trading Down 2.3 %

Confluent stock opened at $30.57 on Thursday. The stock has a 50-day moving average price of $23.79 and a 200 day moving average price of $24.59. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of -27.54 and a beta of 0.82. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last posted 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. The company had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Sell-side analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on CFLT shares. Scotiabank boosted their price target on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Sanford C. Bernstein dropped their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. TD Cowen boosted their price target on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Confluent in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new position in shares of Confluent during the 2nd quarter valued at about $193,403,000. Champlain Investment Partners LLC raised its position in 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 in the last quarter. 1832 Asset Management L.P. lifted its holdings in Confluent by 28.4% in the second quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after acquiring an additional 1,684,100 shares during the period. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 1,316,804 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Confluent during the 3rd quarter worth approximately $21,127,000. 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.