Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 63,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 63,729 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75. Following the completion of the sale, the insider now owns 678,016 shares of the company’s stock, valued at approximately $23,561,056. The trade was a 8.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Erica Schultz also recently made the following trade(s):

• 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 stock was sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.21, for a total transaction of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The stock was sold at an average price of $28.23, for a total transaction of $267,253.41.

Confluent Price Performance

CFLT stock opened at $34.94 on Wednesday. The stock has a market cap of $11.46 billion, a PE ratio of -31.48 and a beta of 0.92. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The company has a 50-day moving average price of $29.79 and a 200 day moving average price of $25.74. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.17.

Confluent (NASDAQ:CFLT) last released its earnings results on Tuesday, February 11th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. Equities research analysts anticipate that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CFLT. Stifel Nicolaus boosted their price objective on Confluent from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada boosted their price target on Confluent from $36.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Mizuho increased their price objective on shares of Confluent from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an “underperform” rating in a research report on Wednesday, February 12th. Finally, Evercore ISI upped their target price on shares of Confluent from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of CFLT. Neo Ivy Capital Management purchased a new stake in shares of Confluent during the fourth quarter valued at $2,088,000. Vident Advisory LLC bought a new stake in Confluent during the 4th quarter valued at about $972,000. Tairen Capital Ltd lifted its holdings in Confluent by 45.6% during the 4th quarter. Tairen Capital Ltd now owns 72,798 shares of the company’s stock valued at $2,035,000 after buying an additional 22,798 shares in the last quarter. Shay Capital LLC purchased a new stake in Confluent in the 4th quarter valued at about $419,000. Finally, Royal Bank of Canada grew its stake in Confluent by 86.3% in the 4th quarter. Royal Bank of Canada now owns 498,413 shares of the company’s stock worth $13,936,000 after acquiring an additional 230,943 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.