Confluent, Inc. (NASDAQ:CFLT) Director Matthew Craig Miller Sells 1,067,242 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) Director Matthew Craig Miller sold 1,067,242 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.51, for a total value of $29,359,827.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Confluent Stock Performance

CFLT stock traded down $1.06 on Friday, reaching $26.50. 3,511,612 shares of the company were exchanged, compared to its average volume of 4,361,565. The firm has a market capitalization of $8.69 billion, a PE ratio of -24.83 and a beta of 0.82. The company has a debt-to-equity ratio of 1.17, a current ratio of 4.24 and a quick ratio of 4.24. Confluent, Inc. has a 12 month low of $16.69 and a 12 month high of $35.07. The stock's fifty day moving average price is $21.51 and its 200 day moving average price is $24.65.

Confluent (NASDAQ:CFLT - Get Free Report) last released its quarterly earnings results 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 business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. On average, research analysts anticipate that Confluent, Inc. will post -0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CFLT has been the topic of several research reports. Citigroup raised their price objective on Confluent from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Sanford C. Bernstein cut their price target on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Confluent from $26.00 to $33.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. 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. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 price target on shares of Confluent in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.74.

Institutional Investors Weigh In On Confluent

Hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in shares of Confluent by 7.1% during the first quarter. Daiwa Securities Group Inc. now owns 12,100 shares of the company's stock worth $369,000 after acquiring an additional 800 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Confluent by 8.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,681 shares of the company's stock valued at $322,000 after purchasing an additional 857 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Confluent by 40.3% in the first quarter. Advisors Asset Management Inc. now owns 2,991 shares of the company's stock valued at $91,000 after acquiring an additional 859 shares in the last quarter. Resolute Advisors LLC grew its position in shares of Confluent by 11.1% during the 1st quarter. Resolute Advisors LLC now owns 8,693 shares of the company's stock worth $265,000 after purchasing an additional 869 shares in the last quarter. Finally, Fulton Bank N.A. raised its holdings in Confluent by 15.0% in the 2nd 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. 78.09% of the stock is currently owned by institutional investors and hedge funds.

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.

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