Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells $3,444,851.41 in Stock

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

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

• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was 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 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 shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.

Confluent Stock Performance

CFLT stock opened at $31.69 on Friday. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of -29.34 and a beta of 0.92. The business’s fifty day simple moving average is $29.93 and its two-hundred day simple moving average is $26.24. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT) last announced 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 net margin of 35.81% and a negative return on equity of 34.70%. Analysts predict that Confluent, Inc. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

CFLT has been the subject of a number of research reports. TD Cowen upped their target price on shares of Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Barclays increased their price target on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Robert W. Baird lifted their price objective on Confluent from $23.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Scotiabank increased their target price on Confluent from $27.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus target price of $35.15.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its position in Confluent by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 10,774 shares of the company’s stock valued at $301,000 after acquiring an additional 328 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Confluent by 4.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,557 shares of the company’s stock valued at $323,000 after purchasing an additional 458 shares during the last quarter. EP Wealth Advisors LLC increased its position in Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock valued at $293,000 after buying an additional 503 shares in the last quarter. Truist Financial Corp raised its stake in Confluent by 2.5% in the fourth quarter. Truist Financial Corp now owns 21,081 shares of the company’s stock valued at $589,000 after buying an additional 514 shares during the last quarter. Finally, Jasper Ridge Partners L.P. boosted its holdings in Confluent by 4.8% in the fourth quarter. Jasper Ridge Partners L.P. now owns 14,409 shares of the company’s stock worth $403,000 after acquiring an additional 664 shares in the last quarter. Hedge funds and other institutional investors 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.