Matthew Craig Miller Sells 157,890 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 157,890 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $32.88, for a total transaction of $5,191,423.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The stock was sold at an average price of $30.32, for a total value of $16,428,892.00.
• 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 value 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 Price Performance

CFLT opened at $31.29 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $23.58 and its 200 day moving average price is $24.58. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $35.07. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of -28.19 and a beta of 0.82.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC raised its stake in shares of Confluent by 72.2% during the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after purchasing an additional 4,486,841 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Confluent by 28.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after buying an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Confluent in the 2nd quarter worth approximately $193,403,000. Geode Capital Management LLC boosted its holdings in shares of Confluent by 2.5% in the third quarter. Geode Capital Management LLC now owns 4,325,709 shares of the company’s stock valued at $88,180,000 after acquiring an additional 107,510 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 valued at $103,665,000 after acquiring an additional 1,316,804 shares during the period. Institutional investors own 78.09% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CFLT. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Truist Financial reissued a “buy” rating and set a $30.00 price objective (down from $36.00) on shares of Confluent in a research note on Thursday, August 1st. 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. Bank of America reduced their target price on Confluent from $32.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. Finally, Baird R W upgraded Confluent to a “hold” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.88.

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.