Confluent, Inc. (NASDAQ:CFLT) SVP Chad Verbowski Sells 9,441 Shares of Stock

Confluent, Inc. (NASDAQ:CFLTGet Rating) SVP Chad Verbowski sold 9,441 shares of Confluent stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $20.11, for a total transaction of $189,858.51. Following the transaction, the senior vice president now owns 338,391 shares of the company’s stock, valued at $6,805,043.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Chad Verbowski also recently made the following trade(s):

  • On Tuesday, September 20th, Chad Verbowski sold 8,097 shares of Confluent stock. The shares were sold at an average price of $24.32, for a total transaction of $196,919.04.

Confluent Price Performance

CFLT traded up $2.54 during trading on Thursday, reaching $23.18. 3,166,680 shares of the company were exchanged, compared to its average volume of 3,551,719. Confluent, Inc. has a 12-month low of $16.48 and a 12-month high of $85.50. The company’s 50-day moving average is $23.78 and its two-hundred day moving average is $24.40. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 1.38. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -13.88 and a beta of 1.26.

Confluent (NASDAQ:CFLTGet Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40). Confluent had a negative return on equity of 55.60% and a negative net margin of 85.83%. The firm had revenue of $151.73 million for the quarter, compared to analysts’ expectations of $144.39 million. Research analysts forecast that Confluent, Inc. will post -1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the topic of several analyst reports. UBS Group lifted their target price on Confluent from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. DA Davidson dropped their price target on shares of Confluent from $44.00 to $33.00 in a research report on Thursday, November 3rd. Barclays cut their price target on shares of Confluent from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, November 3rd. Morgan Stanley cut their price objective on Confluent from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Confluent from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.36.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Confluent in the 2nd quarter valued at $26,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Confluent in the third quarter worth $29,000. Advisors Asset Management Inc. bought a new stake in Confluent during the first quarter valued at $30,000. US Bancorp DE purchased a new position in shares of Confluent during the third quarter worth about $31,000. Finally, James Investment Research Inc. increased its holdings in shares of Confluent by 716.9% in the 2nd quarter. James Investment Research Inc. now owns 1,356 shares of the company’s stock worth $32,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 40.65% of the company’s stock.

About Confluent

(Get Rating)

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.

Recommended Stories

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

Receive News & Ratings for Confluent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Confluent and related companies with MarketBeat.com's FREE daily email newsletter.