Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 1,084,259 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 1,084,259 shares of Confluent stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $28.90, for a total transaction of $31,335,085.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 Performance

Shares of NASDAQ:CFLT opened at $27.07 on Monday. The company has a market cap of $8.88 billion, a price-to-earnings ratio of -24.39 and a beta of 0.82. The company has a 50-day moving average price of $22.39 and a 200-day moving average price of $24.56. 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 12 month low of $17.79 and a 12 month high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $243.98 million. As a group, equities analysts anticipate that Confluent, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Confluent

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Confluent during the second quarter valued at about $68,000. UniSuper Management Pty Ltd increased its position in shares of Confluent by 125.0% during the first 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 during the period. Advisors Asset Management Inc. increased its position in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock valued at $91,000 after buying an additional 859 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Confluent during the third quarter valued at about $68,000. Finally, Lazard Asset Management LLC increased its position in shares of Confluent by 25.5% during the first 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 during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price objective on shares of Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Bank of America reduced their price target on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Piper Sandler reduced their price target on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, DA Davidson restated a “buy” rating and set a $30.00 price target on shares of Confluent in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

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.