Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Director Sells 347,646 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller sold 347,646 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $32.69, for a total value of $11,364,547.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Matthew Craig Miller also recently made the following trade(s):

• On Friday, December 6th, Matthew Craig Miller sold 53,512 shares of Confluent stock. The shares were sold at an average price of $33.64, for a total value of $1,800,143.68.
• On Monday, November 25th, Matthew Craig Miller sold 157,890 shares of Confluent stock. The stock was sold at an average price of $32.88, for a total value of $5,191,423.20.
• On Thursday, November 21st, Matthew Craig Miller sold 541,850 shares of Confluent stock. The shares were sold at an average price of $30.32, for a total value of $16,428,892.00.
• On Wednesday, November 13th, Matthew Craig Miller sold 1,084,259 shares of Confluent stock. The shares were sold at an average price of $28.90, for a total transaction of $31,335,085.10.
• On Thursday, November 7th, Matthew Craig Miller sold 1,067,242 shares of Confluent stock. The stock was sold at an average price of $27.51, for a total transaction of $29,359,827.42.

Confluent Stock Down 3.6 %

Confluent stock traded down $1.16 on Tuesday, hitting $31.28. 4,745,457 shares of the stock traded hands, compared to its average volume of 4,358,160. Confluent, Inc. has a 1 year low of $17.79 and a 1 year high of $35.07. The firm has a market cap of $10.26 billion, a P/E ratio of -28.18 and a beta of 0.88. The business’s fifty day simple moving average is $26.17 and its 200 day simple moving average is $24.63. 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 announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating 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 business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. As a group, sell-side analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CFLT shares. Evercore ISI cut their price objective on shares of Confluent from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. UBS Group lifted their price objective 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. Barclays increased their target price on Confluent from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. TD Cowen boosted their target price on Confluent from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein reduced their target price on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.23.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co lifted its holdings in shares of Confluent by 110.3% during the third quarter. Diversified Trust Co now owns 60,503 shares of the company’s stock valued at $1,233,000 after purchasing an additional 31,729 shares in the last quarter. Sycomore Asset Management lifted its stake in Confluent by 308.3% during the 2nd quarter. Sycomore Asset Management now owns 333,083 shares of the company’s stock valued at $9,176,000 after acquiring an additional 251,507 shares during the period. Quantbot Technologies LP boosted its holdings in shares of Confluent by 1,465.6% during the 3rd quarter. Quantbot Technologies LP now owns 30,295 shares of the company’s stock valued at $617,000 after acquiring an additional 28,360 shares during the last quarter. Pathway Capital Management LP bought a new stake in shares of Confluent in the third quarter worth approximately $918,000. Finally, Sei Investments Co. raised its holdings in shares of Confluent by 29.1% during the second quarter. Sei Investments Co. now owns 305,537 shares of the company’s stock valued at $9,022,000 after purchasing an additional 68,880 shares during the last quarter. 78.09% of the stock is currently owned by hedge funds and other institutional investors.

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.