Erica Schultz Sells 9,467 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $267,253.41. Following the completion of the transaction, the insider now directly owns 678,016 shares in the company, valued at $19,140,391.68. This represents a 1.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total value of $1,746,174.60.

Confluent Price Performance

Shares of Confluent stock traded up $0.91 during trading hours on Friday, reaching $31.52. 5,460,246 shares of the company’s stock were exchanged, compared to its average volume of 4,379,470. The business has a fifty day moving average of $23.12 and a two-hundred day moving average of $24.62. 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 has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07.

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

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. EP Wealth Advisors LLC grew its holdings in shares of Confluent by 3.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 14,371 shares of the company’s stock worth $293,000 after purchasing an additional 503 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Confluent by 8.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company’s stock worth $322,000 after purchasing an additional 857 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Confluent by 40.3% during the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after buying an additional 859 shares during the period. Fulton Bank N.A. raised its holdings in Confluent by 15.0% in the second quarter. Fulton Bank N.A. now owns 8,145 shares of the company’s stock valued at $241,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Confluent by 9.6% in the second quarter. Assenagon Asset Management S.A. now owns 12,680 shares of the company’s stock worth $374,000 after acquiring an additional 1,113 shares during the last quarter. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFLT shares. UBS Group raised their price target on shares of Confluent from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their target price on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lowered their price target on shares of Confluent from $37.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Robert W. Baird lifted their price objective on Confluent from $23.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Truist Financial restated a “buy” rating and issued a $30.00 target price (down previously from $36.00) on shares of Confluent in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.88.

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.