Edward Jay Kreps Sells 232,500 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CEO Edward Jay Kreps sold 232,500 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $29.36, for a total transaction of $6,826,200.00. Following the completion of the sale, the chief executive officer now directly owns 452,488 shares of the company's stock, valued at $13,285,047.68. The trade was a 33.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Edward Jay Kreps also recently made the following trade(s):

• On Thursday, February 20th, Edward Jay Kreps sold 232,500 shares of Confluent stock. The stock was sold at an average price of $32.33, for a total value of $7,516,725.00.

Confluent Price Performance

Shares of Confluent stock traded up $0.56 during trading on Friday, hitting $26.36. 4,706,379 shares of the company's stock traded hands, compared to its average volume of 4,295,471. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.99 and a quick ratio of 4.24. The company has a market cap of $8.80 billion, a PE ratio of -24.41 and a beta of 0.89. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The firm's fifty day moving average price is $29.66 and its 200 day moving average price is $26.73.

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Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.28). Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Analysts forecast that Confluent, Inc. will post -0.83 earnings per share for the current year.

Institutional Trading of Confluent

Several large investors have recently added to or reduced their stakes in CFLT. Credit Industriel ET Commercial bought a new stake in Confluent during the 4th quarter worth approximately $28,000. Blue Trust Inc. increased its stake in shares of Confluent by 354.0% in the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after buying an additional 1,607 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Confluent in the fourth quarter valued at about $59,000. Point72 Hong Kong Ltd acquired a new position in Confluent during the 3rd quarter worth about $68,000. Finally, GAMMA Investing LLC raised its stake in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after acquiring an additional 1,136 shares during the last quarter. 78.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CFLT shares. Morgan Stanley upped their target price on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Evercore ISI upped their price objective on shares of Confluent from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wells Fargo & Company lifted their target price on shares of Confluent from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Piper Sandler upped their price target on shares of Confluent from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Finally, William Blair reissued an "outperform" rating on shares of Confluent in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Confluent has a consensus rating of "Moderate Buy" and an average price target of $35.33.

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.