Erica Schultz Sells 150,000 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) insider Erica Schultz sold 150,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.82, for a total transaction of $5,373,000.00. Following the sale, the insider now directly owns 678,016 shares of the company's stock, valued at approximately $24,286,533.12. This represents a 18.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Tuesday, December 10th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $31.68, for a total value 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 transaction of $267,253.41.

Confluent Stock Down 4.7 %

NASDAQ CFLT traded down $1.53 on Friday, hitting $31.01. 8,023,704 shares of the stock were exchanged, compared to its average volume of 5,634,724. Confluent, Inc. has a fifty-two week low of $17.79 and a fifty-two week high of $37.90. The company has a 50-day moving average price of $29.86 and a 200-day moving average price of $25.92. The company has a market cap of $10.17 billion, a PE ratio of -28.71 and a beta of 0.92. The company has a quick ratio of 4.24, a current ratio of 3.99 and a debt-to-equity ratio of 1.14.

Confluent (NASDAQ:CFLT - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.23) earnings per share 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%. Sell-side analysts anticipate that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Credit Industriel ET Commercial acquired a new position in Confluent in the fourth quarter valued at $28,000. Blue Trust Inc. lifted its holdings in shares of Confluent by 354.0% in the 4th 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. acquired a new stake in shares of Confluent in the 4th quarter valued at about $59,000. Point72 Hong Kong Ltd purchased a new position in Confluent during the 3rd quarter worth approximately $68,000. Finally, GAMMA Investing LLC increased its position in Confluent by 85.3% during the fourth quarter. GAMMA Investing LLC now owns 2,467 shares of the company's stock worth $69,000 after buying an additional 1,136 shares during the period. 78.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays lifted their price target on shares of Confluent from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their target price on Confluent from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on Confluent from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Citigroup boosted their price objective on shares of Confluent from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. Finally, Guggenheim increased their target price on shares of Confluent from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Confluent has an average rating of "Moderate Buy" and an average price target of $35.00.

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.