Confluent, Inc. (NASDAQ:CFLT) Director Sells 157,890 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $32.88, for a total value of $5,191,423.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Matthew Craig Miller also recently made the following trade(s):

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total transaction of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total value of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The shares were sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Up 2.3 %

NASDAQ:CFLT traded up $0.71 during trading hours on Monday, reaching $32.23. The company’s stock had a trading volume of 7,426,733 shares, compared to its average volume of 4,392,918. The firm has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $24.57. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

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 the consensus estimate of ($0.24) by $0.03. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. The firm had revenue of $250.20 million during the quarter, compared to analyst estimates of $243.98 million. As a group, analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFLT shares. Bank of America lowered their price target on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. Robert W. Baird upped their target price on shares of Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup boosted their price target on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Wells Fargo & Company decreased their target price on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Confluent currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Hedge Funds Weigh In On Confluent

Hedge funds have recently made changes to their positions in the business. UniSuper Management Pty Ltd grew its stake in Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Confluent by 40.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after acquiring an additional 859 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Confluent by 25.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock valued at $175,000 after buying an additional 1,167 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Confluent by 24.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,157,231 shares of the company’s stock valued at $35,319,000 after purchasing an additional 228,429 shares during the period. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Confluent in the first quarter valued at about $4,376,000. Institutional investors own 78.09% of the company’s stock.

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.