Insider Selling: Confluent, Inc. (NASDAQ:CFLT) CEO Sells 232,500 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $29.36, for a total value of $6,826,200.00. Following the transaction, the chief executive officer now directly owns 452,488 shares in the company, valued at $13,285,047.68. The trade was a 33.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Edward Jay Kreps also recently made the following trade(s):

• On Thursday, February 20th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The stock was sold at an average price of $32.33, for a total transaction of $7,516,725.00.

Confluent Trading Up 4.5 %

Confluent stock opened at $25.50 on Wednesday. The stock has a 50-day moving average price of $29.80 and a 200 day moving average price of $26.71. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -23.61 and a beta of 0.89. Confluent, Inc. has a 52 week low of $17.79 and a 52 week 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.

Confluent (NASDAQ:CFLT) last announced its quarterly earnings data 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 net margin of 35.81% and a negative return on equity of 34.70%. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Confluent from $35.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus boosted their price objective on shares of Confluent from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Barclays increased their target price on Confluent from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Scotiabank boosted their price target on Confluent from $27.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, 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 report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.33.

Institutional Investors Weigh In On Confluent

Several hedge funds have recently added to or reduced their stakes in CFLT. Credit Industriel ET Commercial purchased a new position in shares of Confluent during the 4th quarter valued at about $28,000. Blue Trust Inc. grew its holdings in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company’s stock worth $58,000 after acquiring an additional 1,607 shares during the period. SBI Securities Co. Ltd. purchased a new position in Confluent during the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent in the third quarter valued at approximately $68,000. Finally, GAMMA Investing LLC boosted its position in 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 purchasing an additional 1,136 shares in the last quarter. 78.09% of the stock is owned by hedge funds and other institutional investors.

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.