Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi Sells 477,952 Shares

Confluent, Inc. (NASDAQ:CFLT) Director Michelangelo Volpi sold 477,952 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $26.41, for a total transaction of $12,622,712.32. Following the transaction, the director now owns 317,079 shares in the company, valued at $8,374,056.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michelangelo Volpi also recently made the following trade(s):

• On Friday, November 1st, Michelangelo Volpi sold 50,000 shares of Confluent stock. The stock was sold at an average price of $25.92, for a total transaction of $1,296,000.00.

Confluent Price Performance

Shares of NASDAQ:CFLT traded up $0.43 during mid-day trading on Thursday, hitting $27.56. The company had a trading volume of 5,657,669 shares, compared to its average volume of 4,365,478. The firm has a fifty day moving average price of $21.38 and a 200 day moving average price of $24.63. Confluent, Inc. has a one year low of $16.69 and a one year high of $35.07. The company has a debt-to-equity ratio of 1.17, a quick ratio of 4.24 and a current ratio of 4.24.

Confluent (NASDAQ:CFLT) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $250.20 million for the quarter, compared to the consensus estimate of $243.98 million. Sell-side analysts anticipate that Confluent, Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Confluent from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen lifted their price target on shares of Confluent from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup lifted their price target on shares of Confluent from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Scotiabank lifted their price target on shares of Confluent from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on Confluent from $38.00 to $34.00 and set an “overweight” 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 issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Confluent has an average rating of “Moderate Buy” and an average price target of $30.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CFLT. V Square Quantitative Management LLC bought a new position in shares of Confluent during the second quarter valued at approximately $68,000. UniSuper Management Pty Ltd boosted its position in Confluent by 125.0% in the first quarter. UniSuper Management Pty Ltd now owns 2,700 shares of the company’s stock worth $82,000 after purchasing an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company’s stock worth $91,000 after purchasing an additional 859 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Confluent by 25.5% in the first quarter. Lazard Asset Management LLC now owns 5,747 shares of the company’s stock worth $175,000 after buying an additional 1,167 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Confluent in the second quarter worth about $175,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.

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.