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 Confluent stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $29.47, for a total transaction of $1,878,093.63. Following the completion of the sale, the insider now directly owns 502,424 shares of the company's stock, valued at approximately $14,806,435.28. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, February 25th, Erica Schultz sold 113,729 shares of Confluent stock. The shares were sold at an average price of $30.29, for a total value of $3,444,851.41.
• On Friday, February 21st, Erica Schultz sold 126,730 shares of Confluent stock. The stock was sold at an average price of $31.58, for a total value of $4,002,133.40.
• On Tuesday, February 18th, Erica Schultz sold 63,729 shares of Confluent stock. The shares were sold at an average price of $34.75, for a total value of $2,214,582.75.
• On Thursday, February 13th, Erica Schultz sold 150,000 shares of Confluent stock. The stock was sold at an average price of $35.82, for a total value of $5,373,000.00.
• 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 transaction of $2,018,934.72.

Confluent Stock Performance

Shares of CFLT traded down $2.21 during trading hours on Monday, hitting $24.40. The company's stock had a trading volume of 8,783,480 shares, compared to its average volume of 4,234,922. The business has a 50 day simple moving average of $29.93 and a two-hundred day simple moving average of $26.66. Confluent, Inc. has a 52-week low of $17.79 and a 52-week high of $37.90. 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 $8.15 billion, a price-to-earnings ratio of -22.59 and a beta of 0.90.

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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 for the quarter, missing analysts' consensus estimates of $0.05 by ($0.28). Confluent had a negative net margin of 35.81% and a negative return on equity of 34.70%. On average, equities analysts expect that Confluent, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Trading of Confluent

A number of hedge funds and other institutional investors have recently made changes to their positions in CFLT. US Bancorp DE grew its stake in Confluent by 307.7% during the third quarter. US Bancorp DE now owns 16,702 shares of the company's stock valued at $340,000 after acquiring an additional 12,605 shares in the last quarter. Fiera Capital Corp bought a new stake in Confluent during the third quarter valued at $21,127,000. SpiderRock Advisors LLC grew its position in Confluent by 323.7% during the third quarter. SpiderRock Advisors LLC now owns 264,038 shares of the company's stock worth $5,381,000 after buying an additional 201,721 shares in the last quarter. Assetmark Inc. increased its stake in Confluent by 75,257.1% in the 3rd quarter. Assetmark Inc. now owns 36,925 shares of the company's stock worth $753,000 after acquiring an additional 36,876 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Confluent by 16.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 92,518 shares of the company's stock worth $1,886,000 after acquiring an additional 12,779 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CFLT shares. Truist Financial lifted their price objective on shares of Confluent from $35.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. William Blair reaffirmed an "outperform" rating on shares of Confluent in a research report on Friday. Evercore ISI boosted their price objective on Confluent from $32.00 to $40.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Scotiabank raised their target price on Confluent from $27.00 to $35.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, Guggenheim lifted their target price on Confluent from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.