Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 541,850 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 541,850 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $30.32, for a total transaction of $16,428,892.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Matthew Craig Miller also recently made the following trade(s):

• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The shares were sold at an average price of $32.88, for a total transaction of $5,191,423.20.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total value of $29,359,827.42.

Confluent Stock Performance

Shares of NASDAQ CFLT opened at $31.29 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $10.26 billion, a P/E ratio of -28.19 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 stock has a 50 day moving average of $23.58 and a 200-day moving average of $24.58.

Confluent (NASDAQ:CFLT) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.03. The firm had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. As a group, equities research analysts predict that Confluent, Inc. will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co boosted its holdings in shares of Confluent by 110.3% during the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock worth $1,233,000 after acquiring an additional 31,729 shares during the period. Sycomore Asset Management boosted its stake in Confluent by 308.3% in the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after purchasing an additional 251,507 shares during the period. Pathway Capital Management LP acquired a new position in Confluent in the 3rd quarter valued at $918,000. Sei Investments Co. increased its position in Confluent by 29.1% during the 2nd quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock worth $9,022,000 after buying an additional 68,880 shares during the period. Finally, Creative Planning boosted its position in shares of Confluent by 109.9% in the third quarter. Creative Planning now owns 94,939 shares of the company’s stock valued at $1,935,000 after acquiring an additional 49,699 shares during the period. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Confluent from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company decreased their price objective on shares of Confluent from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group cut their target price on shares of Confluent from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Piper Sandler reduced their price target on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Evercore ISI lowered their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.