Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria Sells 61,905 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Eric Vishria sold 61,905 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $31.41, for a total value of $1,944,436.05. Following the completion of the transaction, the director now directly owns 1,371,068 shares of the company’s stock, valued at approximately $43,065,245.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Confluent Stock Down 2.7 %

CFLT stock opened at $30.15 on Friday. The company has a 50 day moving average of $29.83 and a two-hundred day moving average of $26.85. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.29. Confluent, Inc. has a 12-month low of $14.69 and a 12-month high of $41.22. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -24.12 and a beta of 0.93.

Institutional Trading of Confluent

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. increased its position in Confluent by 14.0% in the 3rd quarter. Invesco Ltd. now owns 3,824,055 shares of the company’s stock worth $113,230,000 after purchasing an additional 470,002 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in Confluent in the fourth quarter worth approximately $745,000. KADENSA CAPITAL Ltd bought a new position in Confluent during the third quarter valued at approximately $11,512,000. Victory Capital Management Inc. lifted its stake in Confluent by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 561,497 shares of the company’s stock valued at $13,139,000 after acquiring an additional 94,405 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Confluent by 18,649.2% in the third quarter. Tower Research Capital LLC TRC now owns 12,187 shares of the company’s stock worth $361,000 after acquiring an additional 12,122 shares in the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CFLT shares. JPMorgan Chase & Co. increased their target price on shares of Confluent from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. DA Davidson reiterated a “buy” rating and set a $37.00 price objective on shares of Confluent in a research note on Monday, April 1st. JMP Securities upped their target price on Confluent from $38.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Canaccord Genuity Group raised Confluent from a “hold” rating to a “buy” rating and increased their price target for the company from $28.00 to $35.00 in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Confluent in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.04.

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.