Confluent, Inc. (NASDAQ:CFLT) Insider Sells $1,878,093.63 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $29.47, for a total value of $1,878,093.63. Following the transaction, the insider now directly owns 502,424 shares in the company, valued at $14,806,435.28. This represents a 11.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41.
• 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 value 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 value 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 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.

Confluent Stock Down 7.1 %

CFLT stock opened at $26.61 on Friday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. 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 firm has a market cap of $8.89 billion, a PE ratio of -24.64 and a beta of 0.90. The business has a 50 day moving average of $29.93 and a 200 day moving average of $26.63.

Confluent (NASDAQ:CFLT) last posted 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 net margin of 35.81% and a negative return on equity of 34.70%. On average, research analysts forecast that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Guggenheim upped their target price on Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays upped 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. Canaccord Genuity Group upped their target price on Confluent from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Mizuho upped their target price on Confluent from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, William Blair restated an “outperform” rating on shares of Confluent in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.15.

Institutional Trading of Confluent

Institutional investors and hedge funds have recently modified their holdings of the business. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the 4th quarter worth $28,000. Blue Trust Inc. boosted its stake in shares of Confluent by 354.0% in the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after buying an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Confluent in the 4th quarter worth $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the 3rd quarter worth $68,000. Finally, GAMMA Investing LLC boosted its stake in shares of Confluent by 85.3% in the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock worth $69,000 after buying an additional 1,136 shares during the last quarter. Institutional investors own 78.09% of the company’s stock.

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.