Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells 63,729 Shares of Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) insider Erica Schultz sold 63,729 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75. Following the completion of the transaction, the insider now directly owns 678,016 shares in the company, valued at approximately $23,561,056. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Erica Schultz also recently made the following trade(s):

• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.68, for a total transaction of $2,018,934.72.
• On Tuesday, December 3rd, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.21, for a total transaction of $1,988,982.09.
• On Tuesday, November 26th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $31.60, for a total transaction of $2,013,836.40.
• On Wednesday, November 20th, Erica Schultz sold 9,467 shares of Confluent stock. The shares were sold at an average price of $28.23, for a total value of $267,253.41.

Confluent Stock Performance

CFLT stock traded down $1.53 during mid-day trading on Friday, hitting $31.01. The company had a trading volume of 8,023,704 shares, compared to its average volume of 5,634,724. Confluent, Inc. has a 12 month low of $17.79 and a 12 month high of $37.90. The stock's fifty day moving average price is $29.86 and its two-hundred day moving average price is $25.92. The firm has a market cap of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CFLT. Credit Industriel ET Commercial purchased a new stake in Confluent in the 4th quarter worth about $28,000. Blue Trust Inc. lifted its holdings in Confluent by 354.0% during the fourth quarter. Blue Trust Inc. now owns 2,061 shares of the company's stock valued at $58,000 after purchasing an additional 1,607 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Confluent during the fourth quarter worth about $59,000. Point72 Hong Kong Ltd purchased a new position in shares of Confluent in the third quarter worth about $68,000. Finally, GAMMA Investing LLC raised its position in shares of Confluent by 85.3% in the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock valued at $69,000 after purchasing an additional 1,136 shares during the period. Hedge funds and other institutional investors own 78.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CFLT. Morgan Stanley raised their price objective on Confluent from $30.00 to $32.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. Needham & Company LLC boosted their price target on shares of Confluent from $31.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Barclays upped their price objective on shares of Confluent from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Sanford C. Bernstein reduced their price objective on shares of Confluent from $38.00 to $33.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their target price on shares of Confluent from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Confluent has an average rating of "Moderate Buy" and a consensus target price of $35.00.

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.