Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 126,730 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 126,730 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.58, for a total value of $4,002,133.40. Following the completion of the sale, the insider now owns 552,424 shares of the company’s stock, valued at approximately $17,445,549.92. This trade represents a 18.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 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 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 shares were sold at an average price of $31.21, for a total value of $1,988,982.09.

Confluent Stock Performance

Shares of NASDAQ CFLT traded down $0.65 during mid-day trading on Tuesday, hitting $30.44. The company had a trading volume of 5,460,988 shares, compared to its average volume of 5,662,908. The firm’s 50 day simple moving average is $29.86 and its two-hundred day simple moving average is $26.10. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of -28.19 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90.

Confluent (NASDAQ:CFLT) last announced its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. As a group, equities research analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

Hedge funds have recently added to or reduced their stakes in the business. Credit Industriel ET Commercial bought a new stake in Confluent during the 4th quarter valued at $28,000. Blue Trust Inc. raised its stake in Confluent by 354.0% during the 4th quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock valued at $58,000 after acquiring an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Confluent during the 4th quarter valued at $59,000. GAMMA Investing LLC increased its position in shares of Confluent by 85.3% during the 4th quarter. GAMMA Investing LLC now owns 2,467 shares of the company’s stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Confluent during the 3rd quarter valued at $68,000. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CFLT. Stifel Nicolaus raised their price objective on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Bank of America raised their price objective on Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. Guggenheim raised their price objective on Confluent from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Mizuho raised their price objective on Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price objective on Confluent from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Confluent presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.