Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 157,890 Shares of Stock

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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 shares were 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 transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Price Performance

Shares of Confluent stock opened at $32.23 on Tuesday. The business has a 50 day moving average of $23.58 and a 200 day moving average of $24.58. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The company has a market cap of $10.57 billion, a PE ratio of -29.04 and a beta of 0.82. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business 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%. As a group, equities research analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the topic of a number of research reports. Barclays raised their price target on Confluent from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup raised their price objective on Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Mizuho lifted their price target on shares of Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Evercore ISI cut their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.88.

Institutional Trading of Confluent

Several large investors have recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new position in shares of Confluent in the 2nd quarter valued at approximately $193,403,000. Champlain Investment Partners LLC raised its holdings in Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock worth $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. raised 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 worth $224,933,000 after purchasing an additional 1,684,100 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock valued at $103,665,000 after buying an additional 1,316,804 shares during the period. Finally, Fiera Capital Corp bought a new stake in shares of Confluent during the 3rd quarter valued at $21,127,000. 78.09% of the stock is owned by institutional investors.

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.