Confluent, Inc. (NASDAQ:CFLT) SVP Chad Verbowski Sells 8,097 Shares

Confluent, Inc. (NASDAQ:CFLTGet Rating) SVP Chad Verbowski sold 8,097 shares of Confluent stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $24.32, for a total transaction of $196,919.04. Following the sale, the senior vice president now owns 347,832 shares of the company’s stock, valued at $8,459,274.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Confluent Stock Down 5.9 %

Shares of NASDAQ:CFLT traded down $1.43 during trading on Thursday, hitting $22.81. 1,901,285 shares of the company were exchanged, compared to its average volume of 3,033,060. The stock has a market capitalization of $6.43 billion, a P/E ratio of -14.20 and a beta of 1.16. The company has a debt-to-equity ratio of 1.36, a current ratio of 5.83 and a quick ratio of 5.83. Confluent, Inc. has a 12-month low of $16.48 and a 12-month high of $94.97. The firm’s 50 day moving average price is $27.50 and its 200-day moving average price is $28.52.

Confluent (NASDAQ:CFLTGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.41) EPS for the quarter, meeting analysts’ consensus estimates of ($0.41). The business had revenue of $139.41 million for the quarter, compared to analysts’ expectations of $131.21 million. Confluent had a negative net margin of 90.30% and a negative return on equity of 50.24%. On average, research analysts predict that Confluent, Inc. will post -1.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Confluent from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, August 4th. Credit Suisse Group dropped their price objective on shares of Confluent from $80.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. DA Davidson lifted their price objective on shares of Confluent from $38.00 to $44.00 in a report on Thursday, August 4th. Citigroup lifted their price objective on shares of Confluent from $26.00 to $32.00 in a report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Confluent from $28.00 to $32.00 in a report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.64.

Hedge Funds Weigh In On Confluent

A number of institutional investors have recently modified their holdings of CFLT. HighTower Advisors LLC acquired a new position in shares of Confluent in the 4th quarter valued at $210,000. Acadian Asset Management LLC acquired a new position in Confluent in the 4th quarter valued at $74,000. Citigroup Inc. increased its stake in Confluent by 928.1% in the 4th quarter. Citigroup Inc. now owns 29,928 shares of the company’s stock valued at $2,282,000 after buying an additional 27,017 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Confluent by 126.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,760 shares of the company’s stock valued at $22,930,000 after buying an additional 167,977 shares during the period. Finally, Geode Capital Management LLC increased its stake in Confluent by 145.1% in the 4th quarter. Geode Capital Management LLC now owns 578,955 shares of the company’s stock valued at $44,139,000 after buying an additional 342,782 shares during the period. 40.65% of the stock is owned by institutional investors and hedge funds.

About Confluent

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Confluent, Inc operates a data streaming platform in the United States and internationally. It offers Confluent Cloud, a managed cloud-native service for connecting and processing data; and Confluent Platform, an enterprise-grade self-managed software that connects and processes data in real-time with the foundational platform for data in motion.

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Insider Buying and Selling by Quarter for Confluent (NASDAQ:CFLT)

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