Erica Schultz Sells 63,729 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $34.75, for a total transaction of $2,214,582.75. Following the sale, the insider now directly owns 678,016 shares of the company’s stock, valued at approximately $23,561,056. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 shares were 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.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total transaction of $267,253.41.

Confluent Stock Performance

NASDAQ CFLT traded up $0.09 during trading hours on Tuesday, hitting $34.94. The company had a trading volume of 7,129,154 shares, compared to its average volume of 5,441,578. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The firm has a market cap of $11.46 billion, a P/E ratio of -31.48 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 has a fifty day simple moving average of $29.71 and a 200-day simple moving average of $25.63.

Confluent (NASDAQ:CFLT) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CFLT. Sanford C. Bernstein cut their price objective on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Guggenheim lifted their target price on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their price target on Confluent from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Barclays lifted their price objective on Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus increased their target price on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Confluent has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Investors Weigh In On Confluent

Several large investors have recently made changes to their positions in the company. Champlain Investment Partners LLC increased its position in Confluent by 72.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after acquiring an additional 4,486,841 shares during the period. Norges Bank bought a new position in shares of Confluent in the fourth quarter worth $81,092,000. Pictet Asset Management Holding SA increased its holdings in shares of Confluent by 7,342.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,351,516 shares of the company’s stock valued at $65,748,000 after purchasing an additional 2,319,919 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Confluent during the fourth quarter valued at about $64,658,000. Finally, Fiera Capital Corp bought a new stake in shares of Confluent during the third quarter valued at about $21,127,000. Institutional investors and hedge funds 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.