Edward Jay Kreps Sells 232,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) CEO Edward Jay Kreps sold 232,500 shares of Confluent stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.29, for a total transaction of $6,809,925.00. Following the sale, the chief executive officer now directly owns 452,488 shares in the company, valued at approximately $13,253,373.52. The trade was a 33.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, September 4th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The shares were sold at an average price of $19.99, for a total value of $4,647,675.00.

Confluent Stock Performance

NASDAQ:CFLT opened at $27.07 on Friday. The business’s fifty day moving average price is $22.39 and its 200 day moving average price is $24.58. The firm has a market capitalization of $8.88 billion, a PE ratio of -24.39 and a beta of 0.82. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $35.07. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Confluent

Several hedge funds have recently made changes to their positions in CFLT. William Blair Investment Management LLC purchased a new position in shares of Confluent during the second quarter worth about $193,403,000. 1832 Asset Management L.P. acquired a new stake in shares of Confluent during the first quarter worth about $181,075,000. Champlain Investment Partners LLC acquired a new stake in shares of Confluent during the first quarter worth about $144,563,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Confluent by 17.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after buying an additional 2,587,169 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Confluent by 60.0% during the second quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after buying an additional 1,316,804 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CFLT shares. Evercore ISI cut their target price on Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Baird R W raised Confluent to a “hold” rating in a research report on Wednesday, September 4th. Wolfe Research raised Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Sanford C. Bernstein cut their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Truist Financial reissued a “buy” rating and issued a $30.00 target price (down previously from $36.00) on shares of Confluent in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

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.