Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 126,730 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40. Following the sale, the insider now owns 552,424 shares of the company’s stock, valued at $17,445,549.92. This represents a 18.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The stock was sold at an average price of $30.29, for a total value of $3,444,851.41.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total value of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Trading Down 2.1 %

NASDAQ:CFLT opened at $30.44 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $29.84 and its two-hundred day moving average is $26.17. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $37.90. The company has a market cap of $9.98 billion, a PE ratio of -28.19 and a beta of 0.92.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. On average, analysts predict that Confluent, Inc. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

CFLT has been the subject of several analyst reports. TD Cowen upped their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their target price on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Confluent in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada upped their target price on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Institutional Trading of Confluent

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cache Advisors LLC acquired a new stake in shares of Confluent during the 4th quarter worth approximately $1,322,000. Neo Ivy Capital Management acquired a new stake in shares of Confluent during the 4th quarter worth approximately $2,088,000. Vident Advisory LLC acquired a new stake in shares of Confluent during the 4th quarter worth approximately $972,000. Tairen Capital Ltd raised its position in shares of Confluent by 45.6% during the 4th quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock worth $2,035,000 after purchasing an additional 22,798 shares during the period. Finally, Shay Capital LLC acquired a new stake in shares of Confluent during the 4th quarter worth approximately $419,000. 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.