Michelangelo Volpi Sells 25,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 25,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $36.22, for a total transaction of $905,500.00. Following the sale, the director now directly owns 292,079 shares of the company’s stock, valued at $10,579,101.38. The trade was a 7.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Confluent Stock Up 0.3 %

NASDAQ CFLT opened at $34.94 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $11.46 billion, a P/E ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a one year low of $17.79 and a one year high of $37.90. The stock has a 50 day moving average price of $29.79 and a 200-day moving average price of $25.74.

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

Institutional Trading of Confluent

Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP lifted its position in Confluent by 1,465.6% in the third quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock worth $617,000 after buying an additional 28,360 shares during the last quarter. Pathway Capital Management LP bought a new stake in Confluent in the third quarter worth $918,000. Charles Schwab Investment Management Inc. lifted its position in Confluent by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,284,037 shares of the company’s stock worth $46,549,000 after buying an additional 64,926 shares during the last quarter. Creative Planning increased its stake in Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock worth $1,935,000 after purchasing an additional 49,699 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in Confluent by 152.4% in the third quarter. Oppenheimer & Co. Inc. now owns 68,613 shares of the company’s stock worth $1,398,000 after purchasing an additional 41,431 shares during the period. 78.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CFLT has been the subject of several research reports. Sanford C. Bernstein reduced their price target on shares of Confluent from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Barclays increased their target price on shares of Confluent from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Piper Sandler increased their target price on shares of Confluent from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Wells Fargo & Company increased their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.