Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 113,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 113,729 shares of Confluent stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $30.29, for a total transaction of $3,444,851.41. Following the transaction, the insider now owns 502,424 shares of the company’s stock, valued at $15,218,422.96. This represents a 18.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The shares were sold at an average price of $31.58, for a total transaction of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $34.75, for a total transaction of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.

Confluent Price Performance

Shares of CFLT stock opened at $30.79 on Thursday. The firm has a market cap of $10.10 billion, a P/E ratio of -28.51 and a beta of 0.92. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The business’s 50 day moving average price is $29.86 and its 200-day moving average price is $26.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share 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, equities research analysts anticipate that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Investors Weigh In On Confluent

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Confluent by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 24,828,562 shares of the company’s stock worth $694,207,000 after buying an additional 599,582 shares during the last quarter. Champlain Investment Partners LLC boosted its position in shares of Confluent by 1.3% during the fourth quarter. Champlain Investment Partners LLC now owns 10,834,754 shares of the company’s stock valued at $302,940,000 after purchasing an additional 133,908 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Confluent by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,409,872 shares of the company’s stock valued at $123,339,000 after purchasing an additional 84,163 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in shares of Confluent by 18.1% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,000,000 shares of the company’s stock valued at $83,880,000 after purchasing an additional 459,000 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Confluent during the fourth quarter valued at approximately $81,092,000. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on CFLT. TD Cowen raised their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. UBS Group upgraded Confluent from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $38.00 in a research note on Wednesday. Barclays raised their target price on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Royal Bank of Canada raised their target price on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC raised their target price on Confluent from $31.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.15.

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.