Michelangelo Volpi Sells 50,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 50,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00. Following the sale, the director now directly owns 280,200 shares of the company’s stock, valued at $7,262,784. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Confluent Stock Performance

NASDAQ CFLT opened at $26.43 on Wednesday. The firm has a 50-day moving average of $21.14 and a 200-day moving average of $24.62. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market cap of $8.53 billion, a PE ratio of -23.81 and a beta of 0.82. Confluent, Inc. has a 52-week low of $16.69 and a 52-week high of $35.07.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.03. Confluent had a negative net margin of 38.35% and a negative return on equity of 34.05%. The business had revenue of $250.20 million during the quarter, compared to analysts’ expectations of $243.98 million. On average, sell-side analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current year.

Institutional Trading of Confluent

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Confluent by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 19,741,320 shares of the company’s stock worth $602,505,000 after purchasing an additional 669,675 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock worth $536,601,000 after purchasing an additional 2,587,169 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Confluent by 28.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock worth $224,933,000 after purchasing an additional 1,684,100 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Confluent in the 2nd quarter worth about $193,403,000. Finally, Champlain Investment Partners LLC bought a new position in Confluent in the 1st quarter valued at about $144,563,000. Institutional investors and hedge funds own 78.09% of the company’s stock.

Analysts Set New Price Targets

CFLT has been the subject of several research reports. Wolfe Research raised shares of Confluent to a “strong-buy” rating in a research report on Wednesday, September 18th. Bank of America decreased their target price on shares of Confluent from $32.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, August 1st. Baird R W raised shares of Confluent to a “hold” rating in a research report on Wednesday, September 4th. DA Davidson reaffirmed a “buy” rating and issued a $30.00 target price on shares of Confluent in a research report on Wednesday, September 18th. Finally, Canaccord Genuity Group decreased their target price on shares of Confluent from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.74.

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.